Arvind Subramanian has just stirred the proverbial hornet's nest. In his latest research paper, the former chief economic advisor said India’s GDP growth between 2011-12 and 2016-17 was probably bumped up by about 2.5 per cent.

Instead of the reported growth of 6.9% between 2011 and 2016, actual growth was more likely to have been between 3.5% and 5.5%, says Subramanian.

"A variety of evidence—within India and across countries—suggests that India’s GDP growth has been over-stat .. ................ET