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Rahul Gandhi attacks PM Modi’s ‘Gross Divisive Politics’ after lower economic growth projections
India’s economic growth is estimated to slow down to a four-year low of 6.5% this fiscal, the lowest under the NDA regime.
Congress president Rahul Gandhi on Saturday criticised Modi government over its “Gross Divisive Politics” (GDP), a day after the Central Statistics Office (CSO) projected India’s economic growth rate for 2017-18 will be lower than the 7.1% achieved in 2016-17.
Gandhi’s tweet comes after the Congress accused Prime Minister Narendra Modi and finance minister Arun Jaitley of ignoring economic wisdom and dealing a “catastrophic” blow to India’s growth.
The new Congress president attacked the government for slow bank credit growth and low job creation.
Party spokesperson Randeep Surjewala said on Friday 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% to 6.5%,” he said.
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.
India’s economic growth is estimated to slow down to a four-year low of 6.5% this fiscal, the lowest under the NDA regime, mainly due to GST impact on manufacturing and subdued farm output.
The Gross Domestic Product (GDP) was 7.1% in 2016-17 and 8% the preceding year. It was 7.5% in 2014-15.
(With agency inputs)
