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Business EconomyPosted at: Mar 18 2019 4:20PM


131 CAs from across nation come forward to debunk allegations of govt fudging official data

New Delhi, Mar 18 (UNI) A total 131 Chartered Accountants from across nation on Monday came forward to debunk allegations of government fudging official data and reaffirmed faith in official statistics, highlighting its credibility among various international agencies.

They blamed Opposition’s foul play for choosing a convenient time before elections for making baseless allegations.
The CAs signed a joint statement in response to allegations made earlier by some economists and social scientists regarding fudging of official data by the government.

The statement comes in the backdrop of a controversial release last week by a group of 108 economists and social scientists alleging Government’s interference in publishing official statistics.
The CAs in a press conference here, alleged foul play by Opposition in choosing a convenient time before the upcoming General Elections and resembling ''the previous Award Wapsi drama, which too was enacted just before a crucial state election.''

These CAs have noted that even international agencies including World Bank and IMF confirm data given by Government agencies and therefore, it is apparent that ''opposition had choreographed the entire move''.
On allegations of changing base year for GDP calculation, this joint statement mentions that, ''changing of GDP base year is a regular feature..the base years of the National Accounts Statistics series have been changed in August 1967, January 1978, February 1988, February 1999 and 2006.''



''Disputing Government data is routine for experts around the world. However, it is unusual for a particular set to come together to discredit all data and long standing institutions of eminence. The appeal seems even more devious as the data in respect of GDP, Poverty Alleviation, Ease of Doing Business are being duly published even by international agencies including World Bank, IMF and many others. The international data and independent agencies have clearly confirmed the data being published by Government agencies,'' they said.


''Between 1960 to 2014, India had been left behind by all its peers from Japan, China, Taiwan, Korea, Brazil, Thailand, Indonesia, Malaysia, Singapore, Russia, South Africa and Sri Lanka in economic growth. None of these economists or social scientists ever made an appeal in those 54 long years that India is on a slow track and is being left behind. Now when India has become the Fastest Growing Economy in the world they are worried about the credibility of data. Is it their intention to scare Foreign Investors by creating doubts on the credibility of Data?'' it said.

Most independent professionals have no doubt about the remarkable progress India has achieved in last 5 years, the CAs said, adding that ''We also believe that India is poised to move on a higher growth trajectory provided such politically motivated attempts to discredit India and dent its credibility and progress is appropriately countered.''

They appealed to the professionals around the world to come together to present the true picture of India and counter baseless allegations with political motivations.

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