The GDP Elephant Jayati Ghosh

National income is hard to estimate in India where so much activity and employment is in the informal sector. Much of GDP calculation is not purely “technocratic” but relies on judgments and assumptions. As long as our system of national accounting does not clarify the real impact on the economy and the actual degree of deceleration of economic activity, we will remain in the dark.

GDP_Elephant (Download the full text in PDF format)

(This article was originally published in Quatrz India: June 5, 2017)