City Reports

BJP derailed country’s economy: P. Chidambaram in Jaipur

While interacting with the media, he accused the BJP government of derailing the country’s economy during its tenure.

Staff Writer | Updated:
December 1, 2018 3:39 pm

Jaipur: Former union finance minister and Congress leader P Chidambaram reached Jaipur on Saturday ahead of upcoming Rajasthan Assembly elections. While interacting with the media, he accused the BJP government of derailing the country’s economy during its tenure.

P Chidambaram said no one can deny the fact that the Indian economy was growing from 2004 to 2014.

“The BJP says the GDP growth in the last 4 years has been better than UPA years. If it’s true why there has been a tremendous decrease in investments. It is down by almost 5-6 percentage points,” added Chidambaram.

He said that the BJP government had promised a double-digit growth rate in 2014. They have not achieved double-digit growth rates in any one of the four years. The big companies are bankrupt, projects are stuck and a lot of more negative things are happening.

He said that the growth rate in the Congress government was 8.1 percent, which went down to 7.2 percent during the BJP led government in these years.

Ex-Finance Minister P Chidambaram tweeted several statements on Friday on his official twitter handle related to GDP growth. The tweets by P Chidambaram:

  • As expected, GDP growth in Q2 of 2018-19 was a good 1 percent lower than in Q1.
  • The Q1 number was on a very low base in the previous year. It did not signify a bump in growth and did not warrant the jubilation of the BJP three months ago
  • Going forward, it is likely that Q3 and Q4 will register similar growth rates unless there are unexpected shocks.
  • The new normal for the Indian economy is 7 percent and 2018-19 will be a normal year.

First published: December 1, 2018
Subscribe to WhatsApp updates for Jaipur News