Piyush Goyal Defends 7.8% GDP Figure, Says Critics Must 'Compare Apples With Apples'

Union Commerce and Industry Minister Piyush Goyal on Wednesday defended India's 7.8% GDP growth for the April-June quarter, pushing back against Opposition leaders and former officials who have questioned the data's accuracy.

Speaking at an industry event in Delhi, Goyal said critics were misleading the public by comparing growth rates from an old data series with a new one, where the base year has changed. "Ministers do not manufacture this data," he said, adding that those casting doubt were trying to demotivate people by distorting the truth.

The remarks come after former RBI Governor Raghuram Rajan and former Finance Secretary Subhash Chandra Garg raised concerns about the headline figure. Rajan questioned the authenticity of the numbers, asking why rapid growth was not translating into more jobs or investment. Garg noted that the current-prices GDP for the previous year had been revised downward, which he said made the latest growth rate appear more impressive than it was.

Without naming them, Goyal dismissed the critics as "the only jobless people left," suggesting their only remaining role was to appear on television panels to manufacture arguments. He credited the growth to the efforts of 140 crore Indians and the leadership of Prime Minister Narendra Modi, calling the figure a feat no other country has replicated.

The Ministry of Statistics and Programme Implementation also issued a rebuttal, explaining that the figures cited by critics belonged to the old 2011-12 base-year series and could not be compared with the new 2022-23 series. The ministry said it was incorrect to interpret the difference as a deliberate revision to boost the current year's growth rate.