Raghuram Rajan questions GDP numbers, warns demographic advantage threatened
Former RBI Governor Raghuram Rajan is questioning India's impressive GDP numbers, wondering why job creation and private investment aren't keeping up.
In a video, Raghuram Rajan asked, "why aren't we creating more jobs? More good jobs? And, why is investment not taking place?" and warned that missing out on quality employment could cost India its demographic advantage.
His comments sparked a debate online.
Ministry of Statistics defends GDP methodology
While some, like former Infosys CFO Mohandas Pai, called the concerns a "fake narrative" and pushed for better job data transparency, others questioned if the 7.8% GDP growth figure really tells the whole story.
The Ministry of Statistics responded, defending its methods and clarifying India's GDP estimation methodology, the negative manufacturing deflator, and the revisions made to the first-quarter GDP estimates.