Annual GDP growth rate is 5.4%, but government highlighting quarterly growth: Congress

Tribune News Service

New Delhi, December 10

Slamming the Central Government, the Congress on Sunday said the annual average GDP growth rate during the UPA era was higher than the current regime headed by Prime Minister Narendra Modi.

Taking to X, Congress General Secretary Jairam Ramesh said the PM and FM were claiming “transformative GDP growth in India” based on the recent numbers for July-September 2023.

Quarterly growth numbers could be high or low for a number of reasons, Ramesh said.

What matters a lot more—to understand how well the economy is doing—is annual growth rates over a longer period of time, Ramesh added.

Annual average GDP growth rate when Manmohan Singh was Prime Minister: 8.1 per cent, Ramesh said.

On the other hand, average GDP growth rate so far under Narendra Modi as Prime Minister was 5.4 per cent, Ramesh pointed out.

“Which is truly transformative?”, the Congress leader asked.

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