We are in virtual free-fall: Cong on declining GDP numbers

The Congress on Friday took a swipe at the BJP government over the GDP growth falling to 4.5 per cent, saying the declining numbers are a reflection of a failed 'Modinomics' and a 'PakodaEconomic Vision'. Congress' Chief spokesperson Randeep Surjewala also alleged that for the BJP, the GDP is "Godse Divisive Politics", as he sought to bolster his attack by using the ongoing row over BJP MP Pragya Thakur's remarks praising Mahatma Gandhi's assassin Nathuram Godse.

Congress senior spokesperson Anand Sharma accused Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman of "ruining" India's economy. "Facing falling revenues, reducing Corporate tax and losing 1lac 40 thousand crore of revenue has ruined finances. Government has no fiscal room left as it stares at record fiscal deficit. Modi ji and Nirmala Sitharaman can you still be in denial after ruining our economy?" he said on Twitter.

Sharma alleged that the government had wrong priorities and the sharp fall in the GDP is a "new low" under the watch of Modi. "Knee jerk interventions have been counter-productive. With a crippling industrial production and collapsing demand and consumption, government had wrong priorities.

"Continuing and sharp fall in GDP a new low, confirms the disastrous mismanagement of Indian economy under the watch of a boastful PM Modi and a confused Finance Minister," Sharma tweeted. In a series of tweets, Surjewala said India's economy was in a "virtual free fall".

"India's GDP has collapsed to an abysmal 4.5%. We are in a virtual free-fall. This is the lowest GDP quarter in 6 years. But why is the BJP celebrating? Because their understanding of GDP (Godse Divisive Politics) suggests double digit growth levels. All in the perspective," he said on Twitter. He further said that the GDP figures were a reflection of failed 'Modinomics' and a 'PakodaEconomic Vision' which has sunk the economy and plunged the country into a deep 'Economic Recession'.

India's economic growth slipped further to hit an over six-year low of 4.5 per cent in July-September, according to official data released on Friday. "People have not forgotten Modiji's promise of giving 2 Crore Jobs per year. BJP Government has ended up as the 'biggest destroyer of jobs'. Unemployment Rate is at a 45 year high (NSSO Report). According to CMIE methodology, Unemployment Rate is 7.6% in November 2019. This is almost double the current global rate of 4.95% (as per ILO)," he said.

He also said that new private investments have hit a 16-year low and industrial output growth was at an eight-year low. Eight core industries growth is at minus 5.8%, he said. "Ravi Shankar Prasad cities the success of films to deny the current economic recession. Shri Piyush Goyal claims that 'Maths didn't help 'Einstein' discover gravity' citing the pointlessness of the entire exercise of economic data crunching. Smt. Nirmala Sitharaman herself admits that there is all around slowdown but no recession. (sic)

"BJP is not ruling any of the four metros now – Mumbai, Delhi, Kolkata or Chennai and is ruling only 41% of India. This is the real reflection of people's anger against their misrule," he said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)