IMF's 4.8% Growth Forecast, A Reality Check Says Chidambaram
Former Union finance minister P Chidambaram described International Monetary Fund (IMF) Chief Economist, Dr Gita Gopinath's forecast of 4.8% growth for the Indian economy as "a reality check." He suggested that her forecast should serve as a much-needed wake-up call for the Narendra Modi government.
In a series of tweets, the Congress leader said that the IMF clearly pegs growth in 2019-20 below 5% at 4.8%. Chidambaram also recalled that IMF chief economist Gita Gopinath was one of the first to denounce demonetisation. The former finance minister had always been a bitter critic of the Modi government's demonetisation move.
In a jibe at the BJP led NDA, the senior Congress leader added that "we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath. The former finance minister also said that the predicted 4.8% itself is after "some window dressing." He added that it could even go lower and he would not be surprised if this were to be the case. Here's a look at his tweets:
Reality check from IMF. Growth in 2019-20 will be BELOW 5 per cent at 4.8 per cent.
— P. Chidambaram (@PChidambaram_IN) January 21, 2020
Good Morning. Sir pls also find faults in your own party. It is easy to find them in oppn.
— Parag Hede (@Indepthcomments) January 21, 2020
IMF Chief Economist Gita Gopinath was one of the first to denounce demonetisation.
— P. Chidambaram (@PChidambaram_IN) January 21, 2020
I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath.
Meanwhile, Congress leader and Rajya Sabha member Kapil Sibal blamed PM Modi for the slump in the economy. AIMIM chief and Hyderabad Lok Sabha member, Asaduddin Owaisi took a dig at the BJP government saying that under PM Modi, the impossible was possible.