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Congress vice-president, Rahul Gandhi on Thursday hit out at the BJP government over the fall in Gross Domestic Product (GDP) growth. The Gandhi scion took to Twitter saying, “Falling #GDP. Rising #unemployment. Every other issue is manufactured to distract us from this fundamental failure.”
The remark from the Congress leader came a day after data released by Central Statistics Office (CSO) revealed that India’s economy grew at a slow pace from January to March 2017 at 6.1 per cent against a 7.0 growth in the previous quarter (October-December).
Congress leader P L Punia also launched a scathing attack at the central government. “They were talking about eight per cent growth rate. But still the government is boasting about itself. I would like to ask the government to keep the real picture of the Indian economy in front of the people of the nation,” said Punia to ANI.
Congress spokesperson Tom Vadakkan also attacked the government. “One really doesn’t know that this figure reflects the actual reality or this is a figure yet again being put up to put up an image of a performing government. Unfortunately the ground reality does not speak so,” said Vadakkan.
The data by CSO also showed that major sectors suffered from a slump in the last quarter. The construction sector in particular reflected a sharp fall while the financial services sector grew at a snail pace. Many economic experts believe that the dip was a reaction to the government’s decision of currency ban which was implemented in the month of November. The economic growth of the country has reduced to a three-year low of 7.1 per cent in 2016-17.
Chief Economic Advisor Arvind Subramanian, however, defended the government calling the growth of 7.1 per cent “a healthy growth number”. He also added, “The GDP is quite expected with what we said in the monetary survey, the demonetisation was a temporary shock, and the economy recovered with remonitisation.”
Chief Statistician T C A Anant said a separate analysis was needed to understand the impact of demonetisation on the Indian economy. He, however, admitted it could be one among the many factors which may have caused the dip in the growth.