Govt figures on GDP a "statistical illusion": AAP

Raising doubts over GDP figures released by the government, the Aam Aadmi Party today termed them as "statistical illusion" and said the numbers were as "fake as BJP's nationalism".
Aam Aadmi Party's (AAP) national treasurer Raghav Chadha said the figures did not match the reality considering the impact demonetisation has had on the country's economy.
"The government's figures are as as fake as BJP's nationalism. When all sectors showed a steep decline in growth, the government is busying claiming that the note ban had no impact on the economy.
The figures have been calculated to suit the interests of the government, which has been trying to mask the effects of demonetisation," Chadha said.

Listing out several sectors like manufacturing, bank credit growth, exports and consumption and public spending, Chadha said all had recorded a decline in growth.
"How can the GDP growth be at 7.1 when all crucial sectors have shown a decline in growth.

"The Narendra Modi government fails to understand that by releasing such figures it has staked the credibility of Indian government at the world stage. There is hardly anyone at the global level who takes the figures seriously," Chadha said.
On March 28, the government pegged GDP growth at a higher-than-expected 7.1 per cent for the current fiscal despite the demonetisation.

The Central Statistics Office (CSO) put the growth rate for October-December - the quarter in which the government banned 86 per cent of the currency in circulation - at 7 per cent, compared to 7.4 per cent in the second quarter and 7.2 per cent in the first quarter.
Doubts have been raised over the figures by a section of economists.