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The Economic Advisory Council to the Prime Minister (EAC-PM) on Wednesday rejected the claims of former CEA Arvind Subramanian regarding over-estimation of GDP growth after 2011, saying his analysis is based on "cherry-picking" of high-frequency indicators while ignoring data on services, agriculture and robust tax collection.
The EAC-PM also accused him of blindly trusting data provided by a private agency, CMIE and distrusting government institution Central Statistics Office (CSO).
In a paper, EAC-PM said India's GDP estimation methodology stands at par with its global standing as a major and responsible economy. Primary contributors of the paper are economists Bibek Debroy, Rathin Roy, Surjit Bhalla, Charan Singh, Arvind Virmani.