New Delhi: Uncertain rumors of exports data being blown up out of proportion have been found to be true as the government has accepted the goof up. It has been boasting of USD 9 billion more exports in the April-November period of the current fiscal.

The government has accepted that the data was incorrect and the numbers were inflated. After implementing the corrections, the exports have shown a decline of 12 percent since the onset of the current fiscal.

The recent revelation exposed an extensive rise in exports of engineering goods which once showed export rate reaching 80 percent, has been found to be just on one-fourth of the boasted amount at 22.3 percent. However, the unrealistic numbers were considered as a wonderful achievement by the government.

Explaining itself on the deception, the government has attributed the wrong data as a result of miscalculation and errors in data entry.

Commerce Secretary Rahul Khullar accepted, “Yes, we were wrong in the export data but the mistake was limited to USD 9 billion only.”

Also, while the exports of engineering goods were shown on a better side, exports of gems and jewellery was under-estimated by over USD 12 billion.

Admitting the mistakes, Khullar said, the data has been rectified now. Post rectification, the exports have witnessed growth of 33.2 percent between April-November. He said, exports worth Rs 192.7 billion have been estimated in the current financial year while exports in the month of November alone stand at USD 22.3 billion.

According to the un-rectified data, the exports were showing a low rate of 45.9 percent. In spite of that, the government seems to be satisfied with the current numbers.

Khullar said, “The 33.2 percent growth in exports is quite good. Though, there was a decline since July, but observing the fluctuating share market and global economy, the government is not taking it in a negative mood.”

Export goof up

Month           Declared            Original

April              23.8                     22.1
May               25.9                     25.8
June               29.2                     25
July                29.3                     26.7
August           24.3                      24.8
September      24.8                     23.6
October          19.8                      22.4

(All figures in billion dollars)

(JPN/Bureau)