New Delhi: The Congress on Friday said the low GDP growth in the last quarter of 2019-20 is the result of the BJP government’s failures, misplaced priorities and a telling commentary on its economic management.
While former finance minister P Chidambaram said the 3.1 per cent GDP growth in the January-March quarter of 2019-20 is a telling commentary on the economic management of the BJP government, former union minister Jairam Ramesh stated that the way the government is in a denial mode on its handling of the economy will truly be “parm-atma-nirbhar (dependent on God).”
“We had forecast that GDP for Q4 will touch a new low at below 4 per cent. It has turned out to be worse at 3.1 per cent. It is a telling commentary on the economic management of the BJP government,” Mr Chidambaram tweeted.
“Remember, this is pre-lockdown. Of the 91 days of Q4, lockdown applied to only 7 days,” the senior Congress leader said.
“3.1 pc and 4.2 pc – these are not merely numbers. This is the product of BJP Govt”s failures and misplaced priorities,” the Congress said on its official Twitter handle.
Congress leader Ramesh said, “Let it sink in. Latest Q4 GDP growth is the lowest in 11 years since India was hit by the global financial crisis. Figure includes only 1 week of lockdown.”
“Mr Modi managed to run down Indian economy BEFORE lockdown. Expect more “naatakbaazi (drama)” from its “ustad” tomorrow,” he tweeted.
“If the Modi government continues to be in denial about how badly it has managed the economy, India will truly be “parm-atma-nirbhar” (dependent on God),” Mr Ramesh said.
The former union minister said provisional GDP estimates for FY19-20 proves that the Modi government cannot hide its staggering incompetence in managing the economy by blaming it on COVID-19.
“The sharp deceleration clearly evident before the lockdown. Estimate of 4.2 pc likely to go below 4 pc when the actual figures come,” he said.
Congress spokesperson Gaurav Vallabh said this is the lowest GDP growth rate in the last 44 quarters.
“Full year GDP at 4.2 pc, GVA at 3.9 pc, the lowest in the last 11 years,” he said.