Politics

Govt stands exposed on lower GDP numbers: P Chidambaram

Chidambaram_4

New Delhi, January 7: Former Finance Minister P Chidambaram on Saturday took his criticism over demonetisation a notch higher.

Earlier too Chidambaram has said that the central government’s decision to recall 86 % of currency is unplanned as severe cash crunch has not only disrupted economic activities but have also affected poor people’s income source.

Referring to the CSO’s GDP estimates for growth former finance minister P Chidambaram tweeted: First the RBI, now CSO have forecast lower GDP growth. Government’s claims and boasts exposed. Growth will be even lower because of demonetisation. 1% reduction means loss of Rs 150,000 crore.

On Friday CSO’s GDP forecast lowered the growth rate to 7.1 per cent for the remaining period of current fiscal year 2016-17. It also lowered the per capita income estimate.

Earlier Chidambaram had said why Modi government did not remove withdrawal restrictions after December 30 as PM himself had claimed that situation will be normal after 50 days of demonetisation.

Wefornews Bureau

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