GDP revision: Chidambaram says credit is all UPA's

Written By Unknown on Sabtu, 31 Januari 2015 | 08.10

Chidambaram says that there is much work to be done. "We are willing to help. It is up to the government to reach out to everyone, build consensus, and work toward achieving higher growth in the years to come."

A change in base year for computing national accounts pushed up the economic growth rate for 2013-14 to 6.9 percent, while earlier estimate on the basis of old series was 4.7 percent.

Similarly, the economic growth rate for 2012-13 has been revised upwards to 5.1 percent, compared with 4.5 percent estimated earlier.

With a 6.9 percent growth in FY14, can the BJP still accuse the UPA of crashing the economy? Former Finance Minister P Chidambaram doesn't think so.

In a statement he said: "It should put an end, once and for all time, to the misconceived charge that the UPA government had mismanaged the economy. I sincerely hope that the government leaders will stop repeating the jibe of sub-5 percent growth in the last two years.

Chidambaram says that there is much work to be done. "We are willing to help. It is up to the government to reach out to everyone, build consensus, and work toward achieving higher growth in the years to come."


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