Motilal Oswal
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Motilal Oswal

108 economists versus 131 chartered accountants: Here's what experts have to say

Updated : March 18, 2019 08:48 PM IST

Amid the rising controversies on the government holding back the reality of the status of the Indian unemployment rate, a total of 131 Indian chartered accountants (CAs) debunked the claims made by 108 economists and social scientists, and said the claims made by the latter were 'politically motivated'.

The joint statement of the economists came in the backdrop of controversy over the revision of gross domestic product (GDP) numbers and withholding employment data by the NSSO.

"It is unusual for a particular set to come together to discredit all data and long-standing institutions of eminence. The appeal seems even more devious as the data in respect of GDP,  Poverty Alleviation, Ease of Doing Business, are being duly published even by international agencies including World Bank, IMF, and many others. The international data and independent agencies have clearly confirmed the data being published by government agencies," the CAs argued in their statement.

The CAs, on this, argued that the economists ignored the opposition and media and are already playing their roles. They hit back, saying, that the allegations by the economists and social scientists 'seem choreographed and resemble the previous 'Award Wapsi' drama'.

To discuss the arguments and the counter-arguments made in these two letters CNBC-TV18 spoke to Nirmal Jain, IIFL Group; Vikas Khemani, Carnelian Capital Advisors -- two of the signatories of the letter by CAs -- Himanshu, professor of economics, JNU, R Nagaraj, professor, Indira Gandhi Institute of Developmental Research -- two of the signatories of the letter by economists.
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