1. “A new way of measuring GDP created the world's fastest-growing major economy overnight”. In the context of India analyse the benefits and concerns raised by the new methodology adopted to calculate GDP figures by the Central Statistical Organisation.

Approach:

The question requires and understanding of how GDP is calculated and what the new changes amount to. Answer should be structured as follows:

♤ As introduction briefly enumerate the salient features of changes made.

♤ Discuss the key benefits as argued by the government sources and Media debates

♤ Concerns should be linked to the extent to which the new data reflects reality, include concerns raised by the RBI and other economic observers