Madhya Pradesh Chief Minister Kamal Nath Wednesday referred to gross domestic product (GDP) as a "fancy figure" and said that economic growth must translate into well-being of people on ground.
At a session on emerging market outlook at the World Economic Forum Annual Meeting 2019 here, Nath also strongly defended his government's farm loan waiver decision, saying the agricultural sector in India and particularly in his state has been in distress.
Referring to the latest IMF forecast for the Indian economy, he said, "GDP is a fancy figure and at times it can be misleading as one needs to see where all a 7.5 per cent growth figure translates into."
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