Last month, the CSO has changed the base of IIP, which measures factory output, to 2011-12 from 2004-05. Besides, the base year of Wholesale Price Index (WPI) has also been changed to 2011-12 from 2004-05
The old IIP was including data from factories which had been closed down and therefore were not contributing to the index
Responding to Jaitley, Congress leader Anand Sharma said: "We do not doubt GDP figures. We do not want question the credibility of the CSO".
He said the tone of disbelief was not only specific to the GDP numbers, but was also there for the third quarter corporate results.
The GDP numbers capture economic activity in the formal sector, which constitutes just 10-15 percent of the economy while the informal sector accounts for an estimated 45-50 percent