Analysts Say India's GDP Numbers Don't Add Up
Using a NEW method that pegs expansion, adjusted metrics show India (the 3rd largest economy in Asia) growing by 8.2% in Q3 2014 and 7.5% in Q4 2014.
- India gets 2 years ahead of analysts GDP growth expectations.
- New Delhi promises comprehensive reforms to sustain growth, but says, "there's no comparison between us and China".
- China ponders new monetary policy to heal contracting economy.
India's economy is one quarter the size of China's, despite India being the 3rd largest economy in Asia.
Ashish Kumar, director general of the Central Statistics Office, says that:
despite India's surge (or the strange discrepancy between old and new growth measurements) it will still take India 20 to 30 years to catch up.