Business India

Congress seeks white paper on economy

The Congress on Friday demanded a white paper on economy after GDP growth fell to 5.7 per cent and called Prime Minister Narendra Modi a ‘pracharshastri’ (expert propagandist).

Congress spokesman Anand Sharma said that going by the old methodology, the actual GDP growth would have been 4.3 to 4.4 per cent.

Terming the government ‘nikkami’ (useless), the Congress also sought 10-year GDP statistics.

“Given the numbers that have come out, former Prime Minister Manmohan Singh had forewarned Modi and Finance Minister Arun Jaitley that the GDP was going to decline sharply,” said Sharma.

“Both took strong umbrage to that. Modi had not shown courtesy and decency and respect the age and experience of Manmohan Singh, a noted economist. He (Manmohan) was proved right. GDP has been falling for the last six quarters.”

On the other hand, the Prime Minister thought that he had better knowledge and understanding of economics. He kept on spreading propaganda that India was developing at a fast pace, Sharma said. “Is this what you call development?”

Accusing Modi of misleading the people, Sharma said Modi had no vision or roadmap to restore the health of the economy.

“The GDP continues to be in constant decline. The sharp dip we have seen now is not 5.7. If we go by the old methodology, it will be between 4.3 and 4.4 per cent. The GDP fall is a big loss for Indian economy.

“That’s why we demand that the government should release 10-year GDP numbers… We also demand a white paper on Indian economy.”

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