New Delhi- The Congress on Wednesday hit again on the authorities after the GDP numbers have been launched saying that there’s completely no trigger to cheer in them.
In a tweet, Congress General Secretary and communications in-charge Jairam Ramesh stated: “The economy is not a film like QSQT – Quarter Se Quarter Tak. There is absolutely no cause for cheer in today’s GDP numbers. They will be spun, but deep structural problems on the double engines of investment and consumption remain”.
“The headline GDP growth is rather meaningless as the real worry lies in the following two numbers: 1. Private consumption – the biggest part of the economy – has grown only by a measly 2.8 per cent at constant prices in Q4. 2. Annual manufacturing GVA growth – the backbone of job creation – has fallen sharply from 11.1 per cent to 1.3 per cent”.
Ramesh stated that the nation, “thanks to Modi government’s policies, is neither consuming enough nor producing enough”.
India’s financial progress rose to six.1 per cent within the fourth quarter (January-March) of 2022-23, a major rise from 4.4 per cent seen within the third quarter (October-December), in keeping with knowledge launched by the Ministry of Statistics and Programme Implementation on Wednesday.
However the expansion in actual GDP throughout 2022-23 is estimated to be decrease at 7.2 per cent as in comparison with 9.1 per cent in 2021-22, the information stated. The GDP progress was 6.3 per cent within the September-quarter of 2022-23.