The Congress on Thursday said the latest GDP numbers have exposed the “lies” of the BJP-led NDA government which now needs to answer as to why the Indian economy is facing a “serious slowdown”. Senior Congress spokesperson Anand Sharma also dared the government to come out with a white paper on the state of the Indian economy and the GDP numbers under the old and new methodology for the last 10 years which he claimed will “expose” the government’s “false claims”. “The latest numbers on the economy expose the lies of the BJP government. First unemployment rises, now GDP growth falls,” he said.
Sharma said the fall in GDP numbers have confirmed the worst fears that despite the tall claims made by this government the Indian economy is going down and GDP growth is flat.
“There is a visible slowdown as all the key parameters of the economy have moved to the negative,” he said, adding that the national investment rate has come down by 7 points and the manufacturing index is in the negative.
The credit offtake is the lowest in the last 63 years, he said, adding that there is underutilisation of installed capacity in the manufacturing sector.
The Congress leader said the prime minister and the finance minister have created a “false perception” that the country’s economy is growing whereas the growth is flat.
“It is only the false perception created by the new series and the new methodology. The truth will be out that the economy is facing a serious slowdown. This government has much to answer.
“We would like to advise them to stop making false claims to befool the people of the country any longer and should instead focus on the economy. It is nor surging but a shrinking economy,” he said.
Sharma said the Congress party would reiterate its demand for a white paper on the state of the Indian economy. The government must release the GDP numbers for the last 10 years as per the old series and the new series, he said.
“Then the truth will be out that the Indian economy registered its highest growth during the UPA regime and since this government has assumed office the growth has nosedived,” he claimed.
“The earlier figures will show that for six years we were growing at double digit,” he said, adding that one has to deduct 2 per cent from the GDP number to know the real growth as this government for the last three years adopted a new series and methodology to calculate GDP.
Sharma said jobs are not being created and are being lost instead and this government has much to answer and that is why the Congress party’s demand for a white paper and the 10 years of GDP numbers under the old and the new methodology which the NDA government adopted from 2014 onwards.