‘Outdated base year’: FM explains IMF’s ‘C’ grade; says GDP figures not questioned

Finance Minister Nirmala Sitharaman connected Wednesday clarified that the International Monetary Fund (IMF) did not question India’s maturation figures, and said the Fund’s ‘C’ people connected nationalist accounts stems solely from the usage of an outdated basal year.

She said the IMF, successful fact, acknowledged India’s steadfast economical show and the resilience of its fiscal sector, according to PTI.Responding to concerns raised by NCP MP Supriya Sule during a Lok Sabha treatment connected the Central Excise (Amendment) Bill, 2025, Sitharaman told the House that India volition displacement to a caller basal twelvemonth of 2022-23 for nationalist accounts from February 27, 2026. She said the existent assessments trust connected information based connected the 2011-12 basal year, which the IMF flagged arsenic outdated portion assigning the ‘C’ grade.According to PTI, the Minister emphasised that the IMF’s study focuses mostly connected India’s robust maturation outlook. The Fund expects GDP to grow 6.5 per cent successful 2025-26 and highlighted private-sector activity, macroeconomic stableness and financial-sector spot arsenic cardinal drivers. It besides noted ostentation remains beneath the RBI’s tolerance set and projected it astatine 4.3 per cent for the afloat year.Sitharaman said the little people was tied specifically to statistical parameters.

“The ‘C’ people is assigned to the National Accounts information due to the fact that it is based connected an outdated basal year, 2011-12,” she said, adding that the displacement to the updated basal twelvemonth successful 2026 volition code the issue. “The IMF study does not question the maturation figures,” she reiterated.Citing latest economical data, she said the

Indian economy

grew 8.2 per cent successful the July-September 4th — a six-quarter precocious — aft expanding 7.8 per cent successful the April-June period.

“It (IMF) didn’t question the maturation figures we person given. On the contrary, they said we volition beryllium increasing astatine 6.5 per cent. They appreciated our ostentation management,” she said.The Minister added that India received a ‘B’ people connected each different statistical fronts, including ostentation data, external-sector statistics, and monetary and fiscal statistics. “So, the median complaint we person got is B,” she said, noting this is successful enactment with countries specified arsenic China and Brazil.The IMF grades nationalist accounts crossed A, B, C and D categories. While an ‘A’ standing indicates information capable for surveillance, a ‘B’ means the information is broadly capable contempt immoderate shortcomings. A ‘C’ suggests shortcomings that could somewhat hamper surveillance, and a ‘D’ signals superior issues that impede surveillance.