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March 21, Wednesday 2018 2:21 PM       

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       Modi pressurised CSO to give out good data on ‘note ban’: Swamy
         Posted on :22:48:51 Dec 24, 2017
       Last edited on:22:48:51 Dec 24, 2017
         Tags: Modi, CSO, Subramanian Swamy, Note ban

AHMEDABAD: Known for ruffling feathers across parties through his controversial statements, Rajya Sabha member and BJP leader Subramanian Swamy, while speaking at a gathering in Ahmedabad has alleged that the Modi government had pressurised senior officials from the Central Statistical Organisation to present data that said that demonetisation had not affected the Indian economy and the GDP.

As per a report from The Indian Express, Swamy told a group of chartered accountants, “Please do not go by the quarterly (GDP) data; they are all bogus. I am telling you, because my father founded the Central Statistical Organisation (CSO). Recently, I went there with (Union) minister Sadananda Gowda. He called the CSO person, because there was pressure to put out data on demonetisation. So they put out the (GDP) data (saying) that there is no impact (of demonetisation).”

He went on to say, “I am feeling nervous because I know there is an impact. So I asked the director of CSO, ‘how did you estimate the GDP for this quarter when the demonetisation was on November (2016) and you gave a printed economic survey report on February 1 (2017), which means it went for printing at least three weeks before. So on the first week of January (2017) you submit a report and you calculate GDP to show no impact. How did you calculate it?”

As per Swamy, the director of the CSO told him that ‘he was in a pressure to give out data and he gave it.’ “So he tells me, that the informal sector’s output last year as a ratio of the formal sector’s output last year, that ratio was applied to the organised sector in January. I told him that relationship has changed. He said, ‘what will I do? I was under pressure to give the data and so I gave it’.”

He advised the audience only to rely on annual GDP figures.

Swamy even slammed Moody’s upgrade of India’s credit rating that came last month after a period of 13 years.

“Don’t believe in these Moody’s and Fitches. You can pay them money and get any report published,” he said.

Next Article: Airtel Payments Bank head Shashi Arora steps down
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