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Saugata Bhattacharya
Mr Saugata Bhattacharya is Senior Vice President and Chief Economist at Axis Bank. He was previously with Unilever in India and with Infrastructure Development Finance Company (IDFC).
He was part of the RBI’s Working Group on Monetary Policy (2010) and the Finance Ministry Group on Estimating Foreign Savings (2011). He is a member of the Confederation of Indian Industries (CII) National Economic Growth and Investment Council, and co-Chair of the Economic Policy Committee of the Indian Merchants Chamber.
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Clearing the fog on the new GDP numbers
The Central Statistics Office recently changed the way GDP is calculated in India, revising the growth estimate for 2013-14 from 4.7% to 6.9%. Many are confused and skeptical about the new numbers, partly owing to a perceived mismatch between the higher growth and underperformance of other economic indicators. In this article, Saugata Bhattacharya, Senior Vice President and Chief Economist at Axis Bank, contends that a credible economic rationale underlines the new methodology. He demonstrates that corporate data are consistent with the national accounts estimates, and this has a bearing on future growth expectations.
