AMN / NEW DELHI
The BJP today rejected the allegation leveled by the Congress party on country’s economy. talking to media persons here, senior BJP Leader Prakash Javadekar said, the allegations made by former Finance Minister P Chidambaram are baseless. Mr Javadekar was reacting to P Chidambaram’s allegation that the economic condition in the country has worsened in the last 12 months.
He said, the India’s economy is the fastest growing economy in the world. Mr Javadekar pointed out that during the UPA rule, the inflation rate never dropped below 10 per cent and Mr Chidambaram who was then Finance Minister is now raising questions on the Modi Government. Mr Javadekar said, the Congress party has always maintained that the growth rate is low and inflation rate is high, but the Modi government has shown it in reverse and growth rate has increased and inflation has decreased.
Banking system bankrupt, gross NPAs at Rs10.3 lakh crore: Chidambaram
AMN / NEW DELHI
chidambaramFormer finance minister and senior Congress leader P Chidambaram slammed the Modi Govt for its poor showing on economic indicators after four years rule, noting the GDP growth rate was at a “sobering” 6.7% and the “banking system bankrupt” with gross NPAs rising from R 2,63,015 crore to R 10,30,000 crore.“On the day after Central Statistics Office (CSO) released the growth numbers for 2017-18, the media played up just one number: 7.7%,” he said, in a series of tweets.“At first blush it appeared to be GDP growth number for the whole year 2017-18, and was certainly impressive. Actually, it was the growth number for just one quarter, Q4, and the uptick was also because of the low base effect. For the whole year, however, the GDP growth rate was a sobering 6.7%,” he said