The biggest relief in the GDP debate is the center. The 'International Monetary Fund' or IMF (International Monetary Fund) stood next to the Narendra Modi government at the Centre. They informed that India's revised GDP calculation is in line with international standards.
On one side, the US-Iran war, on the other hand, US President Donald Trump's 'tariff bomb'. It was feared that it might affect the country's economy. But surpassing all expectations, gross domestic product or GDP growth rate for the June quarter of the current financial year was 7.8 percent last September. But former finance secretary Subhash Chandra Garg claims that the country's GDP is standing at 2.6 percent, but the Modi government is increasing it. The opposition took the field using Subhash Chandra's comments. The aim was only one, to prove the Modi government false. After that, the anti-ruler riots started.
But the IMF rubbished all the demands of the opposition. They sided with the Center in the GDP debate. “India's GDP measurement methodology is consistent with the recommendations of the IMF's Statistics Division,” said Krishna Srinivasan, Director of the IMF's Asia and Pacific Division. He welcomed New Delhi's revised GDP estimates.
It is better to say that the economy is like a living entity, which is constantly evolving. In 2011, smartphones were not the rage in the Indian market, 5G internet was science fiction, and shopping online at home was a luxury. In the last decade, GST has been introduced, digital payments have been revolutionized through 'UPI' and the importance of the service sector has skyrocketed. Thus every time new factors are added. This time, the impact of the Middle East war was the greatest. And that's why there was a fear, maybe as a result the GDP growth will take a big hit. But in the end it didn't happen. Which is comforting to economists.