Chidambaram takes swipe at NDA govt, says economy downward
New Delhi: Congress leader P Chidambaram today took a swipe at the NDA government for claiming that the growth rate was better in its rule, saying it was lower than UPAs 10 years average and was going downward.
In multiple tweets, Chidambaram said theï¿½World Banks former chief economist Kaushik Basu had stated that Indias growth rate was lower than the 30-year average but Finance Minister Arun Jaitley said the growth rate was better.
“What is the average of 4 years of NDA? It is 7.3 under new methodology and lower than UPAs 10 year average.ï¿½What is the direction of NDAs growth rate? Investments? Savings? Credit growth? All downward,” he claimed.
Finance Minister Arun Jaitley in his Budget 2018-19 speech saidï¿½that Indian economy had performed very well since the NDA government took over in May, 2014.
“India achieved an average growth of 7.5 per cent in first three years of our government. Indian economy is now 2.5 trillion dollar economy ? seventh largest in the world,” he hadï¿½said.
Jaitley said the government had undertaken several structural reforms–from GST and the Insolvency Code to linking subsidies with Aadhaar, something that he accused the previous UPA-led government of abandoning.(Agencies)