India's GDP calculation more accurate than ever: Jahangir Aziz | Political Economy

UPDATE - follow-up to India's GDP calculation more accurate than ever: Jahangir Aziz | Political Economy. According to JP Morgan's Co-head of Macroeconomic Research, Jahangir Aziz, India's GDP methodology has become significantly more robust, aligning with the methodologies of other major economies. The switch to the double deflator and Producer Price Index has presented a more accurate picture of growth than ever before. This shift is attributed to the adoption of a more comprehensive approach to calculating GDP, which now includes a wider range of factors. As a result, JP Morgan had estimated India's first quarter growth rate for FY 27 to be at 8 per cent. The upgraded methodology is expected to have a positive impact on the country's economic performance, providing a more accurate representation of its growth trajectory. This change is in line with the recommendations made by the World Bank and the International Monetary Fund, which have also expressed support for the new approach. The upgraded methodology is expected to have a positive impact on the country's economic performance, providing a more accurate representation of its growth trajectory. This change is also seen as a significant step forward in India's efforts to improve its economic indicators, which have been a subject of criticism in recent years.