Numbers prove there is an economic slowdown: Chidambaram

Congress leader P. Chidambaram on Friday targeted the Modi government over the estimated GDP growth of 6.5 per cent in 2017-18, saying the numbers prove there is "a slowdown".

In a series of tweets, the former Union Finance Minister asked how will the government create "promised two crore jobs" in 2017-18 in a slowdown and asked if it will continue to claim that India's growth is robust.

"Our fears and warnings have proved true. GDP growth in 2015-16, 2016-17 and 2017-18 (est) is 8.0, 7.1 and 6.5. These numbers prove there is a slowdown.

"Will government continue to claim that India's growth rate is robust? In a slowdown, how will jobs be created? And how will the promised 2 crore jobs per year be created?"

The former Finance Minister hoped the government will bend to do solid work instead of making tall claims.

"It is time government stops making tall claims and bends down to do solid work," he said.

The official data showed on Friday that implementation of Goods and Services Tax and subsequent slowdown in the manufacturing sector is expected to drag down India's growth to 6.5 per cent in 2017-18.

--IANS

ps/vd