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The question of whether India’s growth story is a "lie" is highly debated, with strong arguments on both sides.
**Ashoka Mody**, a visiting professor at Princeton University, argues that India’s GDP growth figures are misleading.  He claims the National Statistical Office (NSO) uses the **income approach** to calculate GDP while ignoring a significant discrepancy between income and expenditure.  In the April–June 2023 quarter, income grew by 7.8%, but expenditure rose by only 1.4%. Mody contends that treating income as the sole valid measure — rather than combining both income and expenditure, as done in countries like the US, UK, and Germany — distorts the true picture. He suggests that applying the US Bureau of Economic Analysis (BEA) method (averaging income and expenditure) would reduce India’s growth rate from 7.8% to **4.5%**, calling the current narrative a "branding and beautification" exercise ahead of the G20 Summit.
**Critics of Mody**, including former Chief Economic Adviser **K V Subramanian**, counter that large statistical discrepancies also exist in mature economies like the US, where the gap between GDP and Gross Domestic Income (GDI) has exceeded $800 billion — over 2.7% of GDP. He argues that questioning India’s data only when growth is high, while ignoring similar issues in the US, reflects political bias rather than objective analysis.
Other analyses, such as those from *The Hindu* and *Janata Weekly*, highlight **systemic flaws** in India’s macroeconomic data, citing rising inequality, weak job creation, and a declining manufacturing sector as evidence that growth is not translating into widespread prosperity.  They argue that the focus on headline GDP numbers distracts from the struggles of the majority.
Conversely, **Shashi Piptan** and others argue that while the hype needs tempering, India’s growth story is **real** and rooted in structural reforms, infrastructure investment, and a growing digital economy — though it must be matched with inclusive policies.
In summary, the debate centers not on whether growth is occurring, but on **how it is measured, who benefits, and whether it reflects the lived reality of most Indians**.  There is no consensus on whether the growth story is a "lie," but there is widespread agreement that **transparency, methodological rigor, and equitable distribution of growth are critical**.

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