, Columnist
Is Indian Data Turning Chinese?
The government looks to have pulled off a miracle, but probably hasn't.
Consumption rose as cash disappeared.
Photographer: Sanjit Das/BloombergThis article is for subscribers only.
Being the fastest-growing large economy in the world is India’s destiny, and even the most poorly conceived economic policy imaginable can’t stop destiny. At least, that is, if you believe the government’s statisticians, who said on Tuesday that India’s GDP grew at 7 percent in the very quarter that the government withdrew high-value currency notes from circulation.
Is India becoming another China, with incredible growth momentum and statistics nobody quite believes? One hopes not. But the government should be careful to see the new numbers for what they are -- and aren’t.