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  Business   Economy  07 Jan 2017  Govt stands exposed on lower GDP numbers

Govt stands exposed on lower GDP numbers

Published : Jan 7, 2017, 3:06 pm IST
Updated : Jan 7, 2017, 5:41 pm IST

CSO on Friday in its advanced data release pegged India's GDP growth at three-year low of 7.1 per cent.

ormer Finance Minister P Chidambaram. (Photo: AFP/File)
 ormer Finance Minister P Chidambaram. (Photo: AFP/File)

Mumbai: Former Finance Minister P Chidambaram on Saturday took his criticism of demonetisation a notch higher.

This time Chidambaram took to the micro-blogging site Twitter to vent his ire against government’s “unplanned” move of notes recall.

“First the RBI, now CSO have forecast lower GDP growth. Govt’s claims and boasts exposed,” Chidambaram tweeted.

The former finance minister who also handled the crucial home ministry for two years was referring to GDP data that the Central Statistics Office released on Friday.

The 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.

“Growth will be even lower because of demonetisation. 1% reduction means loss of Rs 150,000 crore,” he said in another tweet.

Tags: gdp, p chidambaram, cso
Location: India, Maharashtra, Mumbai (Bombay)