GDP growth: Former Finance Minister P Chidambaram slams Centre
New Delhi, Jan 6 (IBNS): Former Union Finance Minster P Chidambaram has slammed the Centre and said lower growth estimates for the current fiscal reflected that the fear of an imminent economic slowdown have come true.
Chidambaram tweeted :"Our fears and warnings have proved true. GDP growth in 2015-16, 2016-17 and 2017-18 (est) is 8.0, 7.1 and 6.5. These numbers prove there is a slowdown."
Our fears and warnings have proved true. GDP growth in 2015-16, 2016-17 and 2017-18 (est) is 8.0, 7.1 and 6.5. These numbers prove there is a slowdown.
— P. Chidambaram (@PChidambaram_IN) January 5, 2018
He said: "Will government continue to claim that India's growth rate is robust?"
Will government continue to claim that India's growth rate is robust?
— P. Chidambaram (@PChidambaram_IN) January 5, 2018
The former Finance Minister asked whether 2 crore jobs as proposed by the Union government will be created.
"In a slowdown, how will jobs be created? And how will the promised 2 crore jobs per year be created?." the senior Congress leader tweeted.
In a slowdown, how will jobs be created? And how will the promised 2 crore jobs per year be created?
— P. Chidambaram (@PChidambaram_IN) January 5, 2018
He said: "It is time government stops making tall claims and bends down to do solid work."
It is time government stops making tall claims and bends down to do solid work.
— P. Chidambaram (@PChidambaram_IN) January 5, 2018
On Friday, CSO released the data which estimates that the country’s gross domestic product (GDP) will likely grow at 6.5 per cent during 2017-18 — a four year low.
The CSO data shows the growth lower than the 7.1 per cent GDP growth in the previous financial year on account of slowdown in the agricultural and manufacturing output.
It says that the advance estimate for Gross Value Added (GVA) is estimated at 6.1 per cent for 2017-18, down from 6.6 per cent in the previous financial year.
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