Threat of economic slowdown is real: Chidambaram

The former finance minister also asked whether Prime Minister Narendra Modi and finance minister Arun Jaitley believed him.

Former finance minister P Chidambaram said on Saturday the economic slowdown is real as stated by the government’s Chief Economic Adviser Arvind Subramanian and asked whether Prime Minister Narendra Modi and finance minister Arun Jaitley believed him.

P Chidambaram was reacting to the Economic Survey-II 2016-17, which predicts that the economy may not be able to clock the growth rate of 7.5%. (PTI File Photo)

“Economic slowdown is real. CEA says so. Will PM and FM believe him,” Chidambaram asked in a tweet.

“The CEA speaks truth to power cautiously. Don’t shoot the messenger,” he added.

Chidambaram was reacting to the Economic Survey-II 2016-17 which predicts that the economy may not be able to clock the growth rate of 7.5% targeted in the pre-budget survey and that it was facing deflationary pressures.