Did Modi just give an A+ to Manmohan on economy?

-The Times of India

NEW DELHI: A government-appointed panel has estimated that the economy grew at a double-digit rate (10.1 per cent) in 2006-07, a first in the post-liberalisation era and the second highest ever. The new series uses 2011-12 as the base year for prices, as against 2004-05 in the old series. The panel headed by Sudipto Mundle concluded that the difference is minimal, addressing concerns often raised about the new methodology and base year.

Good old days: In what may become a rallying point for the opposition Congress ahead of the 2019 general elections, a revised back-series data of the GDP growth rate during the first three years of UPA-1 rule shows, that for the first time, India actually grew at a double digit rate, of 10.08 per cent in 2006–07.

 

New estimates released by a government constituted committee suggest that GDP growth in the period 2004-05 to 2011-12 may have been higher than reckoned earlier. The new estimates are about 0.3 to 0.5 percentage points higher for each year. The revised figure for 2006-07 pegs growth in that year at 10.1 per cent against the original 9.6 per cent. The last time the economy grew at over 10 per cent in any fiscal year was in 1988-89, when it registered a 10.2 per cent expansion. Ironically, the perception of a tanking economy was among the causes for the demise of the UPA in 2014.

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