The recent paper by Anand, Felman and Subramanian (2026) argues that India’s January 2015 national
accounts methodology revision caused GDP growth to be overstated by approximately 1.5-2 percentage points per year between FY2011-12 and FY2024-25. The paper presents evidence for this view using informal-sector survey data, cross-country regressions, and correlation analysis that is the focus of this note. It has gathered some attention in media, and in political discussions, recently.
