CSO’s 5% growth estimate projected on dated data: FM
“I and many in the government believe that the data on the basis of which CSO reported growth rate of 5 per cent is rather dated data,” said Chidambaram in Mumbai on Saturday while addressing the gathering both at the launch of MCX-SX and the Rajiv Gandhi Equity Savings Scheme.
“CSO extrapolated data for the period April to November 2012 for the year which normally would be correct when the trendline continues in the same direction but when trendline changes, extrapolation is not the method that a statistician should follow to project the future.”
While the economy is not as robust as it was few years ago, the finance minister said that he is confident that it will come out of the trough and climb back to a high growth path. He said that the upturn has started and there are green shoots to