Don’t worry about IMF’s poor rating of Indian statistics. Our economy has evolved faster than our statistical system
Similarly, Asian economies that conducted frequent rebasing, such as Bangladesh, China, Hong Kong, Indonesia and Malaysia, saw their economic data keep pace with the evolving dynamics of their economies. When informal activity is widespread, sectors evolve quickly, the data architecture lags behind the economy and outdated national accounts are therefore more likely to understate reality until a methodological overhaul plugs gaps in activity recognition.
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