Why criticism is anti-national? Shaw questions Centre
GDP not a gospel truth, unlike Bible, Ramayana, won't be relevant in future: BJP MP
New Delhi: Two days after Bajaj Group chief Rahul Bajaj became the first-member of India Inc to openly mark his dissent against the Centre, Biocon Managing Director Kiran Mazumdar Shaw joined chorus over the growing "atmosphere of fear" in the nation.
While speaking to a news channel, the top industrialist said it is essential for the Centre to allow the free-flow of dissent and introspect over constructive criticism.
Shaw, while claiming that the current state of economy raises concern among all stakeholders, said the government should hold widespread consultations to end the cycle of slowdown.
The Finance Ministry must listen to all voices and cater to sector-specific requirements.
"Why criticism is anti-national?" Shaw asked while speaking to NDTV, adding that the Centre must be open to views from all corners.
For reviving the economy, she said the top priority of the government should be to "tackle low consumption".
Replying to a debate on the economic slowdown in the Lok Sabha, Nirmala Sitharaman called Amit Shah's response to Mr Bajaj an example of the government's willingness to listen.
"I was on the dais.
It was with the attitude that we are willing to hear criticism and respond to it, rather than say you can't speak at all.
The Home Minister's response shows we are quite happy to hear," said the Finance Minister, who was among the BJP leaders who responded sharply to Bajaj asking Amit Shah about what he believed was an atmosphere of fear and "a lack of confidence" in confronting the government with critical questions.
BJP Member of Parliament, Nishikant Dubey, on Monday said in the Lok Sabha that the country's GDP growth rate will not be relevant in the future.
"GDP was introduced in 1934. There was no such concept before that. You cannot consider GDP as the gospel truth. It is not Bible, Ramayana or Mahabharata.
GDP will not remain very useful in the future," said the Member of Parliament from Jharkhand's Godda. This comes days after India's gross domestic product (GDP) growth rate slipped to 4.5% for the July-September quarter of the ongoing financial year. This is the lowest since the January-March quarter of 2013.
The GDP growth rate measures how fast the economy is growing. Simply put, GDP measures the economic output of a nation. The GDP growth rate is the most important indicator of economic health.
When the economy is expanding, the GDP growth rate is positive. If it's contracting, then businesses hold off investing in new purchases.
There is delay in hiring new employees until there is confidence that the economy will improve. These delays further depress the economy. Without jobs, consumers have less money to spend.
"In current times, it is sustainable economic welfare of citizens that needs to be concentrated on. Instead of GDP, it is more important whether sustainable development is taking place. Happiness of everybody is more important," he added.
India does not seem to be doing well in terms of happiness too. The world happiness report for 2019 placed India at the 140th position, down seven places from where it stood in 2018.
RSS Chief Mohan Bhagwat, in July, had also questioned the use of GDP as an indicator of the country's economic health. GDP is a "faulty" parameter to judge economy, he had said.