New Delhi, In a series of tweets, veteran Congress leader P Chidambaram said the revision of the GDP figures was worse than a bad joke.
Chidambaram has accused the Niti Aayog of carrying out a hatchet job, demanding that the body be disbanded for slashing the growth rate during UPA regime allegedly at the behest of the Narendra Modi government.
Niti Aayog’s revised GDP numbers are a joke. They are a bad joke. Actually, they are worse than a bad joke. The numbers are the result of a hatchet job. Now that Niti Aayog has done the hatchet job, it is time to wind up the utterly worthless body, he said.
Chidambaram’s tweets echoed the scathing attack his party launched against the Modi government on Wednesday, saying the move to downgrade the GDP numbers reflects a desperate attempt to undermine India’s growth story over the last 15 years.
The government lowered the country’s economic growth rate during the previous Congress-led UPA regime, shaving off over one percentage point from the only year when India posted double-digit GDP growth post liberalisation and from each of the three years with 9-plus per cent expansion. This has upset the Congress.
Recalibrating data of past years using 2011-12 as the base year instead of 2004-05, the Central Statistics Office estimated that India’s GDP grew by 8.5 per cent in the financial year 2010-11 (April 2010 to March 2011) and not at 10.3 per cent as previously estimated.
Similarly, 9.3 per cent growth rate each in 2005-06 and 2006-07 was lowered to 7.9 per cent and 8.1 per cent respectively, while 7.7 per cent rate was now estimated for 2007-08 instead of 9.8 per cent.
The revised growth numbers have been released ahead of the 2019 general elections and the Opposition sees a foul game here