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India's Q2 GDP growth of 7.8% sparks controversy, with former finance secretary alleging data overstatement.
India's economy grew by 7.8% in the June quarter, exceeding expectations, but former Finance Secretary Subhash Chandra Garg accused the data of being artificially inflated by compressing the previous year's corresponding figures. Garg claimed that the GDP for the April-June 2025 quarter (at current prices) was lowered by 6 trillion rupees (approximately $63.5 billion) in the latest data, making the year-on-year figures for the latest quarter appear more favorable. India's Chief Economic Advisor V Anantha Nageshwaran refuted this claim, calling it "out of context" and explaining that the latest GDP data was compiled based on a new benchmark for the fiscal year ending March 2023, and the change in methodology led to revisions in last year's quarterly data. India's Commerce Minister Piyush Goyal responded by stating that India's 7.8% growth is "realistic."
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