131 accountants respond to 108 economists who questioned government data

131 chartered accountants has questioned a group of the 'motivation' behind the doubts raised by 108 economists about the veracity and integrity of economic data.

Among the chartered accountants are names like TV Mohandas Pai, Chairman, Manipal Global and Vikas Khemani, Former CEO, Edelweiss.

A group of 108 economists and social scientists, in a letter, had alleged political interference in publication of economic data.

"Disputing Government data is routine for experts around the world. However, it is unusual for a particular set to come together to discredit all data and long-standing institutions of eminence," wrote the 131 chartered accountants.

The 108 economists had specifically criticised the revision of GDP data after changing the of the base year to 2011-12 which undermined the economic growth in the UPA years and also the suppression of NSSO data on jobs which allegedly pointed out that the unemployment had reached to a 45-year high post demonetisation.

Responding to these charges, the chartered accountants said,"Changing of GDP base year is a regular feature. Instead of taking issue with specific areas, a general bunch of allegations has been made, which leaves one guessing about the motivation of the signatories."

"It may have skipped their mind but the base years of the National Accounts Statistics series have been changed in Aug 1967, Jan 1978, Feb 1988, Feb 1999 and 2006. Such base year changes are made to ensure that data reflects the transition as well as the disruptions in an economy," the 131 chartered accountants added.

Link to the letter