Since the announcement of the new series of national accounts for India (with base 2011-12) in January 2015, there has been endless controversy over the new gross domestic product (GDP) growth numbers, particularly in respect of growth of Indian manufacturing. The purpose of this paper is to highlight certain policy issues concerning India’s system of national accounts, in the context of the methodological changes made in the new national accounts series, and to check the validity of the view held by some critics that the new series has significantly overstated the growth rate in real gross value added in manufacturing in recent years.