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India risks being clubbed with China on GDP reliability: TMC

Press Trust of India  |  New Delhi 

Questioning the projection of 7 per cent, Opposition today said the statistics are not "genuine" and that runs the risk of being clubbed with in terms of lack of reliability of the growth figures.

leader Saugata Roy said in the that has "hobbled" the economy permanently but the has not sanctioned any extra amount to sectors impacted by it.

"The rate of growth has suffered. The statistics of the are not genuine... The way the is giving statistics, soon we will have the Chinese reputation of not giving out statistics properly," he said while participating in the debate on final Supplementary Demands for Grants for 2016-17.

The Central Statiscal Office (CSO) had last month projected India's growth to be 7 per cent in the October- December quarter, belying fears of slowdown post For full year, it projected to clock a 7.1 per cent growth rate.

"My impression, and it has been the impression of all ecomomists, is that it (GDP) should fall to 6.5 per cent if not lower. The economy is not as hunky dory. Small industry, million of artisans and workers have suffered," he said.

Roy said the Treasury Benches are "gloating" over their victory in the state of Uttar Pradesh, but this victory does not prove that is a good step.

"Modi may be a good salesman. He has sold demonesation... But has hobbled our econmomy permanently. If actual figures are placed, then you will see that rate of growth, the rate of has suffered. My estimate," he said.

Quoting from Shakespeare's Hamlet, Roy said, "all is not well in the economy of .. Something is rotten in the state of economy and we are not doing enough to correct it".

He said the indulges in sloganeering but does not have the real data to show how much investment has come in industry in 2016-17, how much money has come back into banking system post demonetisation, and whether black money can been caught. "This remains a dark spot in our economy".

The banking sector with Rs 8 lakh crore worth NPA is "rotting", the member said.

He termed the merger of Railway Budget with the General Budget and advancement of the budget date as "technical showpiece".

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 20 2017. 17:07 IST