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Low Q4 growth telling commentary on economic mismanagement of BJP govt: Chidambaram

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Google Oneindia News

New Delhi, May 29: Senior Congress leader P Chidambaram on Friday said the 3.1 per cent GDP growth in the January-March quarter of 2019-20 is a telling commentary on the economic management of the BJP government.

Chidambaram

"We had forecast that GDP for Q4 will touch a new low at below 4 per cent. It has turned out to be worse at 3.1 per cent. It is a telling commentary on the economic management of the BJP government," he tweeted.

Chidambaram slams Centre, says govt dealt another blow to citizens as RBI bonds scheme stopChidambaram slams Centre, says govt dealt another blow to citizens as RBI bonds scheme stop

"Remember, this is pre-lockdown. Of the 91 days of Q4, lockdown applied to only 7 days,” the former finance minister said. India's economic growth slowed to 3.1 per cent in January-March and to an 11-year low of 4.2 per cent for the full fiscal 2019-20 amid a drop in consumption and investment.

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The Gross Domestic Product (GDP) growth stood at 5.7 per cent in the corresponding quarter of 2018-19, according to the data released by the National Statistical Office (NSO) on Friday. During 2019-20, the Indian economy grew at 4.2 per cent as against 6.1 per cent in 2018-19.

The economic growth was the lowest since 2008-09 when the economy had expanded at 3.1 per cent. The government had imposed a lockdown to curb the spread of COVID-19 from March 25, 2020.

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