CSO in its data for macro-economic indicators fixed Q3 GDP at 7 per cent and 7.1 per cent for FY17.
Mumbai: Finance Minister Arun Jaitley on Thursday defended Central Statistics Organisation over lower but stronger GDP numbers that it released on Tuesday.
The CSO in its data for macro-economic indicators estimated a higher 7.1 per cent GDP growth for the full financial year 2016-17. It also pegged third quarter FY17 GDP growth at 7 per cent.
Finance Minister said, "We should not question CSO's integrity on Q3 GDP data as CSO works at arm's length from government.”
Jaitley also threw his weight behind demonetisation as according to him the notes recall spurred integration of informal economy into formal one, according to ET Now.
CSO’s contrarian view on economic growth for the full year and the third quarter has dazed economists who believed second advance estimate figures were not in sync with prevalent fiscal environment.