You are here: Home » Current Affairs » News » National
Business Standard

'5%?' Chidambaram, in CBI custody, mocks govt over state of economy

He also raised his hand to show five fingers as the CBI took him away in custody

Topics
P Chidambaram | GDP | Indian economy 2019

Press Trust of India  |  New Delhi 

P Chidambaram
P Chidambaram

Former finance minister on Tuesday took a dig at the NDA government over the slump in GDP, which has dropped to over six-year low of 5 per cent in the April-June quarter.

Minutes after Chidambaram stepped out of the courtroom, when journalists asked what he had to say about his CBI custody, Chidambaram quipped, "Five per cent.

Do you know what is five per cent." He also raised his hand to show five fingers as the CBI took him away in custody.

Chidambaram was remanded to two more days of CBI custody in the INX Media corruption case.

India's economic growth has slumped for the fifth straight quarter to an over six-year low of 5 per cent in the three months ended June as consumer demand and private investment slowed amid deteriorating global environment.

Having lost the tag of the world's fastest-growing economy earlier this year, India's growth was behind China's 6.2 per cent in April-June, its weakest pace in at least 27 years.gdp

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, September 03 2019. 17:35 IST
RECOMMENDED FOR YOU
.