Congress Critiques India's GDP Growth Amid IMF's 'C' Grade Assessment

Congress leader Jairam Ramesh called India's recent GDP growth figures ironic, following the IMF's negative assessment of the country's economic statistics. Despite an 8.2% quarterly growth, concerns about inflated calculations and insufficient private investment challenge the sustainability of this economic progress.

On Friday, the National Statistics Office unveiled India's real GDP growth for the July-September quarter of 2025-26, revealing an increase of 8.2%, compared to 5.6% in the same period last year. However, this announcement coincides with a recent International Monetary Fund report that rated India's national account statistics as 'C', criticized as the second-lowest grade in its annual assessment.

Congress leader Jairam Ramesh expressed skepticism on social media platform 'X', highlighting the disparity between the GDP figures and the IMF's critical evaluation. He pointed out the lack of improvement in Gross Fixed Capital Formation and the absence of a surge in private investment, questioning the sustainability of reported growth rates.

Ramesh further criticized the apparent understatement of inflation, noting an unrealistically low GDP deflator suggesting only 0.5% inflation, which conflicts with the everyday experiences of households facing steadily rising costs. He accused the government of manipulating inflation figures to present a brighter economic outlook.

(With inputs from agencies.)