Piyush Goyal slams GDP critics over 7.8 per cent growth, says ‘truth cannot be hidden’

Union Commerce and Industry Minister Piyush Goyal has hit out at Opposition leaders and former officials questioning India’s latest GDP growth figures, accusing them of comparing numbers from different GDP series.

His remarks came amid a growing debate over India’s reported 7.8 per cent real GDP growth in the April-June quarter of 2026-27. Critics have raised questions over the revision of the previous year’s GDP figure under the new base-year series.

Addressing the annual session of the Automotive Component Manufacturers Association (ACMA) in Delhi on Wednesday, Goyal said those questioning the data were attempting to mislead people by comparing figures calculated under different methodologies.

“They have no idea that comparing apples with apples is a good idea. By comparing growth rates [based on] an old series with a new series where the base year itself has changed, they are attempting to mislead the Indian populace,” he said.

Goyal takes aim at critics

Goyal also responded to questions about employment and whether the strong growth figure was reflected in job creation.

“They are trying to find holes, asking, where are the jobs? They cannot digest that they themselves are the only jobless people left. The only possible job left [for them] is to get on a TV panel and try and concoct and manufacture an argument.”

He defended the credibility of the government’s GDP data, saying ministers do not determine the figures.

“Ministers do not manufacture this data... Truth cannot be hidden,” Goyal said.

Why the GDP revision sparked questions

The controversy centres on the change in the GDP estimate for Q1 FY26 after India moved from the 2011-12 base year to the 2022-23 base year.

Under the earlier series, Q1 FY26 GDP at current prices was estimated at Rs 86.05 lakh crore in August 2025. After the new series was introduced in February 2026, the figure was revised to Rs 80.32 lakh crore.

MoSPI has rejected the suggestion that the reduction was made to artificially increase the latest growth rate.

“The change in the estimate of Q1 2025-26 does not represent a downward revision made to make the current year's growth appear higher. It reflects successive methodological and data revisions to the GDP series,” MoSPI said.

The ministry said subsequent data updates further revised the Q1 FY26 figure to Rs 80.00 lakh crore. It stressed that the latest 7.8 per cent growth calculation compares figures from the same revised GDP series.