The Narendra Modi government manipulates GDP data from previous years: Congress



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NEW DELHI: Congress Wednesday accused the Modi government of "manipulating" GDP data from previous years, claiming that it reflected a desperate attempt to undermine India's growth over the past 15 years.

Congressional spokesman Randeep Surjewala described this step as a "clbadic case" in which "the operation is successful but the patient is dead".

"The overall retrospective GDP data released today testifies to the desperate attempt of the defeatist Modi government to undermine India's growth over the past 15 years. his puppet, Niti Aayog, want the people to believe that 2 + 2 = 8.

"This is the gadget, the juggling, the trickery and the quibble that are sold as" data of the back series "," he said in a statement.

The BJP has not reacted immediately to the claims and allegations of Congress.

The congressional leader said that economic mismanagement under the Modi government had led to economic anarchy and a disruption in GDP figures.

"Handled" reverse series data "will not change the" release date "of the Modi government (Prime Minister Narendra) Modiji's new definition of GDP is" Gimmickry Data Product ", did it? he declares.

Surjewala alleges that the failure of "Modinomics and a Pakoda economic vision" completely upset the Indian economy and that the Prime Minister and his finance minister caused an economic "chaos" by "poorly designed" demonetisation decisions, a "GST" badociated with "tax terrorism".

"Faced with the total and total rejection of the" voodoo economy "of the Modi-Jaitley duo, they resort to a malicious and fraudulent juggling of GDP figures to conceal the huge blow to the government. Indian economy by them, "he said. .

Surjewala baderted that since the advent of the NDA government in May 2014, resolute efforts had been made to reduce the balance sheet of the two UPA governments under Manmohan Singh in 2004-2009 and 2009 -2014.

Much confusion was sown and the Modi government added to the confusion by changing the reference year from 2004-05 to 2011-12, he said.

The congressional leader said his party had repeatedly stressed that when the base year would be changed, the government should follow the sound international practice and revise the figures from previous years.

"We requested that the historical GVA and GDP data be computed and disseminated to allow for meaningful comparisons," he said, adding that the retrospective data published by the National Commission for Statistics (NSC) in August 2018 is available in the public domain and the numbers prove that the truth can not be suppressed.

The opposition leader claimed that UPA-1 and UPA-2 had the highest decadal growth of 8.13% at factor cost since independence and during the same period. during this period, 140 million people were lifted out of poverty.

When the UPA resigned, economic growth returned to 6.39% at market prices in 2013-14. In addition, the budget deficit was reduced to 4.48% and the current account deficit to 1.7%, he said.

"The revised" New Series "calculated today by the Ministry of Statistics and Niti Aayog completely undermined the NSC (National Statistical Commission), the autonomous body responsible for the decision of the data. transparently and in accordance with global standards for calculating GDP by market Price methodology.

"Today, the Modi government has deceived the country by surreptitiously changing the methodology to manipulate the GDP data.This is called" Excel Sheet Management ", which is 39, ie by deciding first the result and filling the marks later, which does not take into account taxes and subsidies and is therefore extremely imperfect to serve the short-sighted interests of the Modi government " , did he declare.

Surjewala alleged that, under the current government, investment has stagnated and gross fixed capital formation has remained constant at 28.5% over the last three years. "At this level of investment (GFCF), it is not possible to achieve higher growth rates," he said.

The government on Wednesday lowered the country 's economic growth rate under the previous congressionally – led UPA regime, thus bringing down more than a percentage point in the only year in which the government' s economy. India posted double-digit GDP growth after liberalization and in each of the next three years. -expansion percent.

Recalibrating data from previous years using 2011-12 as a base year instead of 2004-05, the Central Bureau of Statistics (CSO) estimated that India's GDP had increased by 8 , 5% during the 2010-2011 fiscal year (April 2010 to March). 2011) and not at 10.3% as previously estimated.

Similarly, growth rates of 9.3% in 2005-06 and 2006-07 were reduced to 7.9% and 8.1% respectively, while the 7.7% rate was now estimated for 2007-08 instead of 9.8%.

Revised growth figures were released before the 2019 general election.

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