INSUBCONTINENT EXCLUSIVE:
ANI |
Updated: Jan 08, 2020 10:26 IST
New Delhi [India], Jan 8 (ANI): A day after the government released first advance estimates of GDP numbers for the current
financial year (2019-20) pegging the growth at 5 per cent, former finance minister and senior Congress leader P Chidambaram on Wednesday
said that the projected annual growth of 5 per cent is "exaggerated and puffery.""The Advanced Estimates of National Income 2019-20 released
yesterday tells the story of neglect and mismanagement of the economy by the BJP government," Chidambaram wrote on Twitter."The projected
annual growth of 5 per cent is exaggerated and puffery
The growth in the first half was 4.75 per cent
It is difficult to believe that growth in the second half will be 5.25 per cent," he added.Chidambaram further stated that the boast of the
government that millions of jobs are being created is a "big lie"."Key sectors will grow at below 5 per cent, in fact not more than 3.2 per
These include Agriculture, Mining, Manufacturing and Construction
Thus, all employment generating sectors will grow at paltry rates of 3.2 per cent or below
The boast of the government that millions of jobs are being created is a big lie," Chidambaram tweeted."GFCF at current prices in 2019-20
will be 28.1 per cent, one of the lowest in recent years and a sharp fall from the peak
Conclusion: business persons are loath to invest in India
Per capita GDP will grow at 4.3 per cent
This is the average and means that the vast majority of Indians will see little or no growth in their income and quality of life," he added
