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NDA govt's growth rate lower than UPA's 10-year average: Chidambaram

Finance Minister Arun Jaitley in his Budget 2018-19 speech said that Indian economy had performed very well since the NDA government took over in May, 2014

Press Trust of India  |  New Delhi 

Congress leader and former Union Finance Minister P. Chidambaram outside the Parliament House in New Delhi

Congress leader on Saturday took a swipe at the government for claiming that the growth rate was better in its rule, saying it was lower than UPA's 10 years average and was going downward. In multiple tweets, Chidambaram said theWorld Bank's former chief economist had stated that India's growth rate was lower than the 30-year average but Minister Arun Jaitley said the growth rate was better. "What is the average of 4 years of It is 7.3 under new methodology and lower than UPA's 10 year average.

What is the direction of NDA's growth rate? Investments? Savings? Credit growth? All downward," he claimed. Minister Arun Jaitley in his Budget 2018-19 speech said that Indian had performed very well since the government took over in May, 2014. "India achieved an average growth of 7.5 per cent in first three years of our government. Indian is now 2.5 trillion dollar seventh largest in the world," he has said. Jaitley said the government had undertaken several structural reforms--from GST and the Insolvency Code to linking subsidies with Aadhaar, something that he accused the previous UPA-led government of abandoning. "The difference betweenUPAand is that we know how to bite the bullet when decisions have to be taken," he had said.

First Published: Sat, February 10 2018. 14:08 IST
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