Congress terms GDP falling as matter of great concern

After India's GDP growth unexpectedly slashed to a three year low in the June quarter, the Opposition thrashed the ruling National Democratic Alliance (NDA) government, calling it a worrying matter.

Speaking to ANI, senior Congress leader P.L. Punia said, "Our economy is tumbling, from 6.1 percent growth rate between January and March it came down to 5.7 percent growth rate from April to June, this is continuous fallout."

Criticizing the ruling NDA Government. he said that the amount of big statements made by the government was based on Make in India, foreign investment.

Speaking on the same , Congress leader Lakshmi Hebbalkar said, "This is nothing to be astonished about."

The president of the women's wing of the Karnataka Pradesh Congress Committee (KPCC) further said, when the condition of GDP was so bad and financial crisis were going on all over the world, under the United Progressive Alliance (UPA) government, due to the expertise of then Finance Minister Manmohan Singh India had a GDP of 6.1 percent and it was growing.

"At that time India had no financial crisis, but after the coming of Modi Government, GDP has reached down at 5.7 percent," Hebbalkar said.

India's economy unexpectedly slowed further to a three-year low after the Gross Domestic Product (GDP) in the first quarter (Q1) of 2017-18 was estimated at Rs.31.10 lakh crore, as against Rs. 29.42 lakh crore in the corresponding quarter of 2016-17, thus registering a growth rate of 5.7 percent.

Meanwhile, Quarterly GVA with basic price at constant (2011-2012) prices for Q1 of 2017-18 was estimated at Rs. 29.04 lakh crore, as against Rs. 27.51 lakh crore in Q1 of 2016-17, showing a growth rate of 5.6 percent, stated an official release published by the Central Statistics Office ( CSO) on Thursday noted.