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Quoting the latest World Bank report, Chidambaram noted that the five-year average growth during Prime Minister Narendra Modi-led government (2019-2024) will be 4.08 per cent – which shows economic trajectory is sequentially declining.
“According to the World Bank, the five-year average growth of the Modi government (2019-2024) will be 4.08 per cent Even the sequential annual growth rates after the Corona-affected year show a declining trend The only one boasting about the growth rate is the Government,” Chidambaram tweeted.
On Tuesday, World Bank in its latest India Development Update report cut India’s growth forecast for 2023-24 to 6.3 per cent from earlier 6.6 per cent.
India’s growth, World Bank, said, is expected to be constrained by slower consumption growth and challenging external conditions.
However, the report maintained that India’s growth continues to be resilient despite some signs of moderation in growth. It notes that although significant challenges remain in the global environment, India was one of the fastest-growing economies in the world.
Coming back to Chidambaram, he also tweeted about the ongoing parliament session, where hardly any debate took place.
“…Who was responsible for the Budget being passed without debate? It is for the first time in Indian parliamentary history that the Treasury Benches started the din and disruption and forestalled debate,” Chidambaram tweeted.
In the second leg of the Budget session, both Houses of Parliament were adjourned amid protests by the opposition Parliamentarians on the Adani-Hindenburg issue and of late about Rahul Gandhi’s disqualification after he was convicted by a Gujarat court. BJP had been seeking an apology from Rahul Gandhi for his “democracy in India in crisis” remarks in London.
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