If the Indian economy grew 7

cheap jordans cheap jordans real authentic china Prime Minister Narendra Modi government courted controversy this week, when it claimed the economy grew 7% in the October December quarter and kept the forecast for FY 2016 17 unchanged at 7.1%, making India the fastest growing among major economies. cheap jordans china

cheap jordan sneakers To put it in perspective, the government estimate of 7% growth in the GDP in the last jordan retro 7 cheap quarter includes a robust 8.3% growth in manufacturing output. The latter, in turn, is based on an assessment that both consumption and investment spending saw significant acceleration during this period a claim that has left everyone puzzled. cheap jordan sneakers

Cheap jordans How could consumption grow at a 10% pace in this period, compared to 5% in the previous cheap jordan website quarter, when the government surprise move to squeeze out of the system nearly Rs 15 lakh crore in high value notes left consumers with hardly any cash to spend? How could investment grow 3.5%, compared to a decline through the super cheap jordan shoes three preceding quarters, when demonetisation left businesses with no confidence to invest? How did the government end buy cheap air jordans online up estimating a robust growth in manufacturing output when its own data cheap jordans dhgate showed jordan shoes for sale cheap a contraction in industrial production in two of the three cheap real jordans free shipping months making up the quarter? Above all, how could job cuts run into hundreds of most cheapest jordans thousands, while the economy was chugging along at a cheap childrens jordans shoes 7% pace? Cheap jordans

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cheap Air max shoes As the definition goes, GDP is the broadest measure of the value of the goods and services produced in a country. That value cheap nike and jordan shoes is estimated on the basis of many assumptions, wherein lies the problem. The assumptions often turn problematic because of the inherent weakness in the way the Central Statistical cheap nike jordans uk Organisation (CSO) collates data. It doesn compile data on consumption, instead extrapolates the same from data on production. It doesn have cheap jordans 40 dollars free shipping any mechanism to collect data on production in the informal sector; it uses the data for the formal sector as a proxy. Demonetisation didn devastate the formal sector as much as it did the informal sector. There lies the first reason for the consumption numbers getting overstated. cheap Air max shoes

cheap yeezys Second, the production data on formal sector is based on the balance sheets reported by manufacturers. Companies, encouraged by the economic upswing through September and October, might have taken bigger orders on their cheap jordans nike books, before demonetisation was announced. Also, post demonetisation, there was a spurt in advance tax collections. Experts suspect this was a result of many firms, and even individual proprietors, inflating their earnings to convert their illegal cash holdings into legitimate money. In other words, the output of the formal sector could buy cheap jordans have registered high growth on paper, even though there was no offtake matching cheap jordans legit that incremental production. cheap yeezys

cheap jordans from china The same explanation would apply to investment numbers, which appear clearly overstated given that credit offtake was hit hard as the only banks did during this quarter was to manage serpentine queues outside their branches and where to buy cheap jordans ATMs. cheap jordans from china

cheap jordans on sale Third, there is the problem of cheap jordans for toddlers channel stocking. Take the example of the automobile sector. In November https://www.newapplemall.com , auto sales were up because the manufacturers had their dispatch and distribution schedule drawn up before November 8. Sales got hit at dealers end, but the figures concealed the impact, which showed in December a contraction of 19%. The impact on auto production will reflect in the estimates when these are reported for the current quarter. cheap jordans on sale

cheap air force Some analysts wonder if the CSO could have addressed these cheap air jordans size 9 anomalies, especially in a situation especially when there is wide divergence in the performance of the formal and the informal sectors. Unfortunately, the CSO can change its methodology on its own; nor does it have the wherewithal to assess the informal sector separately. cheap air force

cheap adidas A day after announcing the estimates, the government chief statistician, TCA Anant alluded to some of these issues in interviews to newspapers. such as demonetisation cheap jordans from china , which are a large policy change, are not assessed by single quarter data. These have many effects and will take time to work their way through the economy, he told the Business Standard. And he is right. The effects will take time to work where can i buy cheap jordans their way through, especially when it comes to getting reflected in the official numbers on the performance of the broader economy. cheap adidas

cheap air jordan That said, Anant a well known economist who once taught at the Delhi School of Economics could have done well to add an advisory to last Tuesday announcement on the GDP estimates, saying these may see revisions in the time to come. Also, the government needs to be candid in acknowledging the impact of demonetisation as reflected in other sets of data. Sadly, that is not how Modi administration has chosen to respond, and that is why everyone is saying these numbers are too good to be true cheap air jordan.