GDP is an imperfect measure of economic performance, says Jairam Ramesh

It is a reflection of the changed circumstances in India over the last 25 years that we are not accepting a growth rate of 5 per cent

I think, it is important for the government to first acknowledge the reality that for the last eight quarters, quarterly GDP growth has been declined. GDP is an imperfect measure of economic performance. But, you take any indicator of the real economy whether it is rail freight, growth in bank credit, electricity consumption, it is an extraordinary situation that in a country like ours electricity consumption is showing the lowest growth rates.

I think, the first step in addressing the economic situation is acknowledging the reality that we are in a difficult situation.  I am glad that India has reached