Every nation’s economic output moves up or down along a long-term trend, fluctuating in accordance with seasonal patterns, business and financial cycles and random shocks.
In addition to those variables, the growth of India’s GDP now depends crucially on which party was in power when the activity occurred – and under which party it was measured.
Disagreeing about the future is for people on opposite sides of the Brexit debate, like Jacob Rees-Mogg and Bank of England Governor Mark Carney. New Delhi’s favorite pastime is quarreling about the past. That’s why, when statistics on historical GDP under a new base year were