For those who came in late, official statistics now show that the Indian economy grew at its fastest rate this decade in the year of demonetization. Economic growth in fiscal year 2017 is now reported to be 110 basis points higher than the previous estimate. Such drastic data revisions have profound implications—for policymakers, investors and companies. He first dealt with the changes imposed by new data series that are generated by changing the base year, before moving on to the frequent revisions within an existing data series. Then there are data revisions without any change in the base year.

Source: Mint February 05, 2019 18:45 UTC