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Q1 GDP at 8.2% a statistic, Rupee at 70 to a dollar is reality: P Chidambaram on weakening Indian currency

While the senior Congress leader mocked the ruling dispensation over the rise of fuel prices and falling down of the Indian Rupee. The BJP hailed the GDP figures, party president Amit Shah credited "transformative changes" ushered in by the Modi government.

By: Express Web Desk | New Delhi | Updated: September 1, 2018 6:31:57 pm
RBI report on demonetisation proves black money was converted into white, alleges P Chidambaram Former finance minister P Chidambaram mocked the centre over the GDP figures.

Former Finance Minister and senior Congress leader P Chidambaram on Saturday took a jibe at the Narendra Modi-led government at the Centre over the continuous weakening of the Indian currency with respect to the US dollar. Taking to Twitter, Chidambaram said, “Q1 GDP at 8.2 per cent is a statistic. Rupee at 70 to a dollar is a reality. In Delhi, Diesel at Rs 70.21 and Petrol at Rs 78.52, is a cruel blow.”

He was responding to the GDP data released by the Centre on Friday.

Also Read | Spending surge powers growth: GDP is up 8.2%, best in over two years

While the senior Congress leader mocked the ruling dispensation over rising fuel prices and a falling Indian Rupee, the BJP hailed the GDP figures. BJP chief Amit Shah credited “transformative changes” ushered in by the Modi government for the 8.2 per cent growth in the economy and said it will mean better prospects for the common man, PTI reported.

BJP leaders, including several Union ministers, posted tweets hailing the increased rate of growth and lauding Modi’s leadership for the development. “India’s rising economic fortunes mean better prospects for the common man, who will now have more means and opportunities to realise his or her dreams. New India, under PM Modi’s leadership, is now empowered more than ever. My compliments to the PM for this stupendous performance,” Shah tweeted.

“India’s GDP for the first quarter this year growing at 8.2% in otherwise an environment of global turmoil represents the potential of New India. Reforms and fiscal prudence are serving us well. India is witnessing an expansion of the neo-middle class,” Finance Minister Arun Jaitley said in a tweet.

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