World Bank chief Mishra brands India’s latest GDP figures as ‘ill‑educated’

World Bank Executive Director Shaktikanta Mishra took to X on Tuesday to label the Indian government’s recent gross domestic product (GDP) numbers as “ill‑educated” and “egregiously wrong,” according to The Hindu. His blunt assessment arrived as former Finance Secretary S.C. Garg publicly questioned the credibility of the growth figures released by the Ministry of Statistics and Programme Implementation (MoSPI).

Mishra’s post, shared on his official X handle, warned that unreliable data could distort policy decisions and undermine investor confidence. The Hindu noted that the World Bank official’s remarks are unusual, given that the institution typically refrains from commenting on a single country’s statistical releases.

The controversy stems from the government’s latest quarterly estimate, which placed India’s annualised growth at 7.6 percent – a rate that exceeds many private sector forecasts. Garg, who served as Finance Secretary from 2018 to 2020, argued that the methodology used by MoSPI diverged from internationally accepted standards, potentially inflating the headline number. He urged the government to adopt a more transparent approach, citing past instances where revisions to GDP data caused market volatility.

India’s GDP figures are a critical barometer for both domestic policy and foreign investment. The MoSPI publishes estimates quarterly, but the data have repeatedly been revised, sometimes leading to sharp corrections in stock markets and bond yields. International bodies such as the IMF and World Bank often rely on these numbers for country assessments, making any perceived inconsistency a matter of global interest. In recent years, disputes over the accuracy of Indian growth statistics have surfaced, notably after the 2021 revision that added 0.5 percentage points to the 2020‑21 growth rate.

The government, through a spokesperson, defended the numbers, stating they reflect the latest methodology and that the data undergo rigorous verification. It also highlighted that the World Bank’s own country‑level projections align closely with the official estimate, suggesting that Mishra’s criticism may be rooted in a misunderstanding of the data collection process.

Analysts say the row underscores the broader challenge of reconciling domestic statistical practices with international expectations. As India seeks to attract more foreign capital, maintaining credibility in its economic indicators remains essential for sustaining growth momentum.