Can people guess better than official figures?

Growth of the Indian economy rose to 7.7% in the last quarter making it the fastest growing major economy in the world. The Confederation of Indian Industry thinks that our economy is in a "sweet spot" and will grow at near 8% in the next two years. A $2.7 trillion economy growing at a scorching pace means more jobs, higher earning and more fun for everyone. However, wherever there is good news there are Cassandras. A survey by the Reserve Bank of India, RBI, in 6 major cities in India showed that people are becoming pessimistic about the future compared to 2014, when this government came to power. A net 16.1% think that the economy is worse, compared to 14.4% in 2014, and only 21.7% expect it to get better in the next one year, compared to 39.1% in 2014. In 2014, 54.9% expected the job situation to improve, compared to just 24.5% today. Naturally, when people are pessimistic about jobs growth they have less hopes of earnings growth. Only on inflation are people somewhat optimistic. Government minions try to present a rosy picture but numbers given by them are so different that it casts doubt on their veracity. The 2011 Census found that "there are 84 million literates and 33 million illiterates who are unemployed" which is why rates of crimes are so high in smaller towns, wrote Prof D Gupta. Delhi has the highest crime rate followed by Jaipur, Lucknow, Kochi and Patna, all with populations less than 3 million. Why are crime rates so high in smaller towns? "This is because it is the literate unemployed who are largely circling this territory, foraging for work and they have dreams much grander than what the unschooled can imagine. Most juvenile criminals have high school degrees. The government has started an 'Aspirational Districts Programme' covering 115 districts in Hindi states hoping to improve local administration and local infrastructure. A Tiwari is unimpressed with the growth rate. He says that growth has been entirely dependent on government expenditure, made possible by high taxes on oil, while private consumption has actually declined. If that is so why are consumption stocks, such as fast moving consumer goods and durable goods, the best performers in our markets? The government made windfall profits from taxes on oil which fell from an average of $100 per barrel in 2014 to $52 in 2015, to $44 in 2016 and $54 in 2017, wrote Prof D Nayyar. Oil prices have risen recently which will increase our current account deficit, add to headline inflation and weaken the rupee. Hence, people are pessimistic. Even if politicians are boasting about GDP.