income is hard to estimate in India where so much
activity and employment is in the informal sector.
Much of GDP calculation is not purely "technocratic"
but relies on judgments and assumptions. As long as
our system of national accounting does not clarify
the real impact on the economy and the actual degree
of deceleration of economic activity, we will remain
in the dark.
* This article was originally
published in the Frontline Print edition: June 23,