A day after the Central Statistics Office (CSO) estimate said that the GDP growth rate for 2017-18 fiscal would be 6.5 per cent, Congress president Rahul Gandhi has taken a swipe at both Prime Minister Narendra Modi and Finance Minister Arun Jaitley.
The GDP estimate by the CSO is a four-year low growth rate of Indian economy, which has been saddled by demonetisation and GST rollout, which saw many a hiccup during its initial phase of implementation last year.
In a tweet, Rahul Gandhi said that the fresh investment in the economy was at a 13-year low, bank credit growth at 63-year low, job creation at 8-year low, agriculture gross value added (GVA) at 1.7 per cent while fiscal deficit was heading for an 8-year high and projects were being stalled under the Modi government.
Mocking the economic performance of the NDA government, Rahul Gandhi said, “FM Jaitley’s genius combines with Mr Modi’s Gross Divisive Politics (GDP) to give India.”
The ‘gross divisive politics’ jibe follows Rahul Gandhi’s much talked about phrases including ‘Gabbar Singh Tax’ for GST, ‘Fake in India’ for Make in India campaign and ‘Suit Boot ki Sarkar’ as reference to PM Modi’s monogrammed suit.
Rahul Gandhi’s jibe was followed up by the Congress spokesperson Randeep Surjewala, who wrote on Twitter that “Modinomics + Jaitlinomics = Declining Economy.
Surjewala said that agriculture, industry, private consumption and government expenditure, all have recorded declining growth rate in 2017-18 compared to 2016-17 while fiscal deficit went up in the ongoing financial year.
Earlier, the CSO said that the GDP growth rate was expected to slow to a four-year low of 6.5 per cent in 2017-18, the lowest under the Modi-led government mainly due to poor performance of agriculture and manufacturing sectors.