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Re-Basing Ups India's GDP Growth Rate In 2013-14 From 5% To 6.9%

Ministry of Statistics & Programme Implementation (MOSPI), India's stats body, has released a new series of national accounts, revising the base year from 2004-05 to 2011-12 (April to March period). This has significantly revised upward, the real GDP growth rates. The revisions are also expected to improve the data quality, due to availability of more…