India GDP growth revised up by 50% after methodology change

New Delhi

INDIA'S economy grew almost 50 per cent faster in 2013/14 than earlier thought, the government said on Friday after changing a formula, a reminder of the challenges that unreliable statistics present to Indian policymakers.

In the year leading up to the elections that brought Prime Minister Narendra Modi to power last May, the economy grew 6.9 per cent, not the 4.7 per cent reported earlier, chief statistician TCA Anant told reporters.