Govt revises GDP data, says India grew 8.5% in FY11 not 10.3%
The government on Wednesday released revised GDP data for the seven years from 2004-05 to 2011-12 under a new base year. The new back series data showed growth at 8.5% in 2010-11 compared to the estimate of 10.3% under the old series. Congress leader and ex-Finance Minister P Chidambaram said the revised GDP numbers are "worse than a bad joke".