The wages of growth in India

.....The question is: which set of numbers is correct? This is not merely an academic question but has important implications for policy decisions. In recent months, GDP numbers have been stealthily revised down, RBI has expressed reservations about the industrial production data and now the data on wages, too, is cause for confusion. It’s high time for a complete overhaul of our macroeconomic data collection systems. Is the Indian economy experiencing a wage depression?

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