WION Web Team New Delhi, Delhi, India
Jan 06, 2018, 07.47 AM
After terming Prime Minister Narendra Modi's Goods and Service Tax as Gabbar Sigh Tax and Make In India as Fake In India, Congress president Rahul Gandhi on Saturday again tore into Modi's economic policies and coined a new acronym to GDP -- Gross Divisive Politics.
Rahul Gandhi attributed to India's GDP growth slump to FM Jaitley’s genius combines with Mr Modi’s Gross Divisive Politics (GDP).
FM Jaitley’s genius combines with Mr Modi’s Gross Divisive Politics (GDP) to give India:
New Investments: 13 year ?
Bank credit Growth: 63 year ?
Job creation: 8 year ?
Agriculture GVA growth: 1.7%?
Fiscal Deficit: 8 year??
Stalled Projects ??https://t.co/bZdPnREYiE
He blamed GST and the note ban for the slow economic growth in the country.
Meanwhile, Congress leader and former finance minister P Chidambaram tweeted GDP growth in 2015-16, 2016-17 and 2017-18 (est) is 8.0, 7.1 and 6.5. These numbers prove there is a slowdown.
''Our fears and warnings have proved true. GDP growth in 2015-16, 2016-17 and 2017-18 (est) is 8.0, 7.1 and 6.5. These numbers prove there is a slowdown,'' Chidambaram tweeted.
Taking a jibe at Modi governments tall claims, he added ''Will the government continue to claim that India's growth rate is robust?.''
He urged the government to stop making tall claims and ''bends down to do solid work''.
The economic growth is expected to slow to a four-year low of 6.5 per cent in 2017-18, the lowest under the Modi-led government, mainly due to the poor performance of agriculture and manufacturing sectors.
The Gross Domestic Product (GDP) was 7.1 per cent in 2016-17 and 8 per cent in the preceding year. It was 7.5 per cent in 2014-15.
Congress party communication in-charge Randeep Surjewala claimed that the double whammy of "Modi Made Disaster of Demonetisation" and the implementation of a flawed GST were responsible for the economy's downturn.
"An arrogant Prime Minister Narendra Modi and a failed Finance Minister Arun Jaitley, hell-bent upon ignoring economic wisdom, have dealt a catastrophic blow to India's growth story as proved by the latest GDP estimates slumping from 7.3 per cent to 6.5 per cent," he said yesterday.
He claimed the truth was that investment had stagnated, job creation was abysmal, exports were in dire straits, stalled projects were burgeoning, inflation remained unchecked and rural distress was at an all-time high.
"Hype, hyperbole and headline management cannot be a substitute to the grim reality on the ground," he said.
He alleged that 6.5 per cent GDP growth "detailed the failed promise of the prime minister and explained the abject failure of Modinomics".
An arrogant Prime Minister,Shri Narendra Modi and a failed Finance Minister, Shri Arun Jaitley hell bent upon ignoring economic wisdom have dealt a catastrophic blow to India’s Growth story as proved by the latest #GDP estimates slumping from 7.3% to 6.5%.