Official Indian estimates placed annual average GDP growth between 2011-12 and 2016-17 at about 7 percent but new research estimates that actual growth may have been about 4.5 percent with a 95 percent confidence interval of 3.5 – 5.5 percent. The evidence, based on disaggregated data from India and cross-sectional/panel regressions, is robust.
India’s former Chief Economic Adviser Arvind Subramanian published a Harvard University paper that claimed that India’s GDP growth estimates from 2011-12 to 2016-17 were exaggerated by 2.5 percentage points per year. This would be a nearly 20% overestimation for the period.
The Economic Advisory Council to the Indian Prime Minister (EAC-PM) on June 19 rejected the former CEA’s claims regarding overestimated GDP growth after 2011. They claim the high-frequency indicators ignore data on services, agriculture, and tax collection.
Separately Brookings Institute has said that China’s GDP is 12% Lower
The Brookings Institute has claimed that China’s GDP growth was overstated from 2008 to 2016 and overall China’s GDP is 12% less than official figures.
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He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
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