Explorer

Manmohan Singh downplays 6.3% GDP growth

Surat (Gujarat), Dec.2 (ANI): Senior Congress leader and former prime minister Manmohan Singh on Saturday downplayed the rise in the GDP growth levels in the second quarter and said that it is less than the UPA government's 10-year average growth rate.

India's Gross Domestic Products (GDP) on Thursday surged by 6.3 percent in the second quarter of 2017-18 from a three-year low of 5.7 percent in first quarter.

Addressing media here, the former prime minister said, "There still remains considerable uncertainty over the growth of the GDP. The RBI forecasts that growth in 2017-19 will pick up to 6.7 per cent. However, even if the growth picks up to 6.7 per cent in 2017-18, Modiji's four year average growth rate will be only 7.1 per cent. To equal the UPA's ten year average, the economy will have to grow at 10.6 per cent in the fifth year. I would be happy if this was to happen but frankly I do not think it will."

Continuing his tirade against the Prime Minister Modi government's economic policies, Singh said that the demonetisation cost the country Rs 1.5 lakh crore in economy while GDP growth rate fell to 5.7 per cent in the first quarter.

Terming the Goods and Services Tax (GST) as tax terror, Singh said the BJP government's version was 'poorly designed', 'badly implemented' and 'brought about in such a tearing hurry'. (ANI)


This story has not been edited. It has been published as provided by ANI

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

Arvind Kejriwal Arrest: UN Steps In As Case Against Delhi CM Heats Up Ahead Of Lok Sabha Elections
Arvind Kejriwal Arrest: UN Steps In As Case Against Delhi CM Heats Up Ahead Of Lok Sabha Elections
'My Father Was Given Slow Poison': Son Umar On Mukhtar Ansari's Death
'My Father Was Given Slow Poison': Son Umar On Mukhtar Ansari's Death
WATCH | PM Modi Explains To Bill Gates How Researchers Can Collect Data From Masses Without Invading Privacy
WATCH | PM Modi Explains To Bill Gates How Researchers Can Collect Data From Masses Without Invading Privacy
Months After Praful Patel Joins NDA, CBI Closes Probe In UPA-Era Aircraft Leasing Case
Months After Praful Patel Joins NDA, CBI Closes Probe In UPA-Era Aircraft Leasing Case
Advertisement
for smartphones
and tablets

Videos

Mukhtar Ansari Death: BSP Chief Mayawati Calls For 'High-Level Probe'Mukhtar Ansari Death: Nephew Of Krishnanand Rai Reacts To Mukhtar Ansari's DeathPanel Of 2 Doctors To Conduct Post-Mortem On Mukhtar Ansari's BodyGangster-Turned-Politician Dies Of Cardiac Arrest In Banda Hospital
Embed widget