New Delhi, September 3: Union Commerce and Industry Minister Piyush Goyal addressed allegations from the opposition regarding GDP data on Wednesday. He emphasized that the data collection process has been in place for years and is free from political influence. Goyal stated that manipulating data cannot hide the truth.
Speaking to the media on the sidelines of the Automotive Component Manufacturers Association of India (ACMA) event, Goyal remarked that harboring negative perceptions about data diminishes one’s own stature and undermines public morale. He stressed that the performance reflects not just the government but the hard work and capabilities of the nation’s 1.4 billion citizens.
He further noted that industries such as steel, cement, electronics, and automobiles are performing well. Exports have also seen an increase of nearly 15%. Additionally, companies have reported significant income growth in exchange filings, indicating strong domestic demand.
The central government has dismissed claims suggesting that the first-quarter GDP figures for the fiscal year 2027 were adjusted to present a more favorable outlook. It was alleged that last year’s first-quarter GDP figure was revised from ₹86 lakh crore to ₹80 lakh crore. Without this adjustment, GDP growth at current prices would have been 2.6%.
A statement from the Ministry of Statistics and Programme Implementation clarified that the GDP estimate for the first quarter of 2026-27 is based on a new series with 2022-23 as the base year. Therefore, it cannot be compared to the previous year’s figure of ₹86 lakh crore, which was based on an outdated series from the 2011-12 base year. Accurate comparisons can only be made using the new series data, which indicates ₹80 lakh crore.
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