U-turn Rajan? RBI governor says GDP calculation broadly correct

  • PTI, New Delhi
  • Updated: Jan 30, 2016 10:49 IST
RBI Governor Raghuram Rajan delivers NCAER’s fourth C D Deshmukh memorial lecture on “Financial Sector Reforms in India: The Past and the Future” in New Delhi on Friday. (PTI)

A day after stating that “there are problems with the way we count GDP”, RBI Governor Raghuram Rajan on Friday said he has never raised doubts over the GDP numbers and they are broadly correct.

“It was not anything about new GDP numbers or the way GDP is calculated. I think it’s broadly correct,” Rajan said while delivering the C D Deshmukh Memorial Lecture in the Capital.

Observing that there are “no hidden messages” in his lectures, he said: “You do not have to gauge intent. I am direct when I speak”.

These comments follow another lecture Rajan gave in Mumbai on Thursday before the students of the RBI-promoted Indira Gandhi Institute of Development Research, wherein he had said, “There are problems with the way we count GDP which is why we need to be careful sometimes just talking about growth.”

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