Manufacturing Slowdown in India: New Evidence from a Double Deflation Approach
The real value added in the Indian manufacturing sector for the period 2011–12 to 2016–17 is measured using the double deflation approach. It is found that the official figures understate manufacturing real value added during the period 2011–12 to 2013–14, and overstate it thereafter, as well as miss an apparent manufacturing contraction that occurred in 2014–15. The results are corroborated by the movement of high frequency indicators that are correlated with manufacturing activity.
|Journal||Economic and Political Weekly|