If mother A went to look after the children of mother B and mother B went to look

after the children of mother A, and they each paid each other an equal amount,
GDP would go up by the sum of the two salaries. But would the economy be better
off? Presumably, kids want their own mother rather than the neighbouring mother.
And the economy would be worse off, Rajan observed. According to the government s
mid-year economic review, the economy is now expected to grow at 7-7.5 per cent
in the fiscal year ending March 2016, down from an estimate of 8.1-8.5 per cent
announced in the Budget in February. In January 2015, the government led by Prim
e Minister Narendra Modi changed the base year for computing national accounts w
hich pushed up the economic growth rate for 2013-14 to 6.9 per cent, while earli
er estimate on the basis of old series was 4.7 per cent. These changes follow a
revision in the base for calculating national accounts to 2011-12 from 2004-05.
- See more at: http://indianexpress.com/article/india/india-news-india/raghuramrajan-sceptical-about-gdp-calculation/#sthash.uP9hOJUe.dpuf
If mother A went to look after the children of mother B and mother B went to look
after the children of mother A, and they each paid each other an equal amount,
GDP would go up by the sum of the two salaries. But would the economy be better
off? Presumably, kids want their own mother rather than the neighbouring mother.
And the economy would be worse off, Rajan observed. According to the government s
mid-year economic review, the economy is now expected to grow at 7-7.5 per cent
in the fiscal year ending March 2016, down from an estimate of 8.1-8.5 per cent
announced in the Budget in February. In January 2015, the government led by Prim
e Minister Narendra Modi changed the base year for computing national accounts w
hich pushed up the economic growth rate for 2013-14 to 6.9 per cent, while earli
er estimate on the basis of old series was 4.7 per cent. These changes follow a
revision in the base for calculating national accounts to 2011-12 from 2004-05.
- See more at: http://indianexpress.com/article/india/india-news-india/raghuramrajan-sceptical-about-gdp-calculation/#sthash.uP9hOJUe.dpuf
If mother A went to look after the children of mother B and mother B went to look
after the children of mother A, and they each paid each other an equal amount,
GDP would go up by the sum of the two salaries. But would the economy be better
off? Presumably, kids want their own mother rather than the neighbouring mother.
And the economy would be worse off, Rajan observed. According to the government s
mid-year economic review, the economy is now expected to grow at 7-7.5 per cent
in the fiscal year ending March 2016, down from an estimate of 8.1-8.5 per cent
announced in the Budget in February. In January 2015, the government led by Prim
e Minister Narendra Modi changed the base year for computing national accounts w
hich pushed up the economic growth rate for 2013-14 to 6.9 per cent, while earli
er estimate on the basis of old series was 4.7 per cent. These changes follow a
revision in the base for calculating national accounts to 2011-12 from 2004-05.
- See more at: http://indianexpress.com/article/india/india-news-india/raghuramrajan-sceptical-about-gdp-calculation/#sthash.uP9hOJUe.dpuf
If mother A went to look after the children of mother B and mother B went to look
after the children of mother A, and they each paid each other an equal amount,
GDP would go up by the sum of the two salaries. But would the economy be better
off? Presumably, kids want their own mother rather than the neighbouring mother.
And the economy would be worse off, Rajan observed. According to the government s
mid-year economic review, the economy is now expected to grow at 7-7.5 per cent
in the fiscal year ending March 2016, down from an estimate of 8.1-8.5 per cent
announced in the Budget in February. In January 2015, the government led by Prim
e Minister Narendra Modi changed the base year for computing national accounts w
hich pushed up the economic growth rate for 2013-14 to 6.9 per cent, while earli
er estimate on the basis of old series was 4.7 per cent. These changes follow a
revision in the base for calculating national accounts to 2011-12 from 2004-05.
- See more at: http://indianexpress.com/article/india/india-news-india/raghuramrajan-sceptical-about-gdp-calculation/#sthash.uP9hOJUe.dpuf

If mother A went to look after the children of mother B and mother B went to look
after the children of mother A, and they each paid each other an equal amount,
GDP would go up by the sum of the two salaries. But would the economy be better
off? Presumably, kids want their own mother rather than the neighbouring mother.
And the economy would be worse off, Rajan observed. According to the government s
mid-year economic review, the economy is now expected to grow at 7-7.5 per cent
in the fiscal year ending March 2016, down from an estimate of 8.1-8.5 per cent
announced in the Budget in February. In January 2015, the government led by Prim
e Minister Narendra Modi changed the base year for computing national accounts w
hich pushed up the economic growth rate for 2013-14 to 6.9 per cent, while earli
er estimate on the basis of old series was 4.7 per cent. These changes follow a
revision in the base for calculating national accounts to 2011-12 from 2004-05.
- See more at: http://indianexpress.com/article/india/india-news-india/raghuramrajan-sceptical-about-gdp-calculation/#sthash.uP9hOJUe.dpuf
If mother A went to look after the children of mother B and mother B went to look
after the children of mother A, and they each paid each other an equal amount,
GDP would go up by the sum of the two salaries. But would the economy be better
off? Presumably, kids want their own mother rather than the neighbouring mother.
And the economy would be worse off, Rajan observed. According to the government s
mid-year economic review, the economy is now expected to grow at 7-7.5 per cent
in the fiscal year ending March 2016, down from an estimate of 8.1-8.5 per cent
announced in the Budget in February. In January 2015, the government led by Prim
e Minister Narendra Modi changed the base year for computing national accounts w
hich pushed up the economic growth rate for 2013-14 to 6.9 per cent, while earli
er estimate on the basis of old series was 4.7 per cent. These changes follow a
revision in the base for calculating national accounts to 2011-12 from 2004-05.
- See more at: http://indianexpress.com/article/india/india-news-india/raghuramrajan-sceptical-about-gdp-calculation/#sthash.uP9hOJUe.dpuf