Source: PIB
New Delhi, Aug 3 : Former Finance and Economic Affairs Secretary Subhash Chandra Garg has debunked the 7.8 per cent GDP growth figure for the June quarter, saying the actual growth was only 2.6 per cent.
The Indian economy grew 7.8 per cent in the April-June period of the current fiscal year as against 6.9 per cent a year ago, according to government data released on August 31.
Real Gross Domestic Product, or GDP at constant prices, in the first quarter of current fiscal is estimated at Rs 81.36 lakh crore, against Rs 75.46 lakh crore in the corresponding quarter of 2025-26, showing a growth rate of 7.8 per cent, Ministry of Statistics and Programme Implementation (MoSPI) said.
And last year’s first quarter, the government itself claimed and said on August 30 that the GDP was Rs 86 lakh crore. And that GDP has been reduced to Rs 80 lakh crores.
So that gives you the current increase of 10.3 per cent. If the GDP as mentioned by the government earlier was Rs 86 lakh crores, then you get the growth only 2.6 per cent. These are the plain numbers using the government’s own data,” the former bureaucrat claimed.
However, his remarks drew sharp criticism from government quarters with Union Commerce Minister Piyush Goyal reportedly on Wednesday attacking opposition leaders and critics questioning India’s latest GDP figures, accusing them of distorting official data and undermining the country’s economic performance.
A few jobless people call themselves economists and appear on TV channels to harm the country. Do not fall for this,” Goyal said while responding to allegations that the previous year’s GDP estimate had been lowered to make growth in the first quarter of 2026-27 appear stronger, according to Outlook website.
