Cong attacks Centre over economy; claims GDP at 3.7% not 4.7%

Attacking the centre for distorting the real data of Gross Domestic Product (GDP) which was released by the centre on Friday, Congress claimed that the GDP is at 3.7% but the government has projected it as 4.7%. Citing the National Statistical Office (NSO) data, Congress claimed that the demand in the manufacturing sector has decreased drastically and the government officials are busy claiming, "it has increased tremendously".

New Delhi:The Congress on Saturday attacked the Centre over its performance in the economic sector and alleged that the centre has distorted the real figures to gain political benefits.

Raising questions on the quarterly three performance of this financial year, Congress leader Anand Sharma cornered the government and asked few questions regarding the data released on Friday.

He further said that the economy shows some growth in the third quarter as this is the time when Kharif crop gets paid off, a surge in demand due to the festive season. But, this time the GDP at its lowest point.

"Q3 results are generally very strong...But this year's result has been the lowest in the last seven years," said Sharma.

Raising concerns over the deteriorating GDP trend, he stressed on the nominal GDP, which he claimed should be much higher than it is as of today.

He also called the budget "directionless" and claimed that it did not provide any incentive to either the investors or the manufacturers. "We reject the government's claims that the economy is showing signs of coming back on track," Sharma said.

He also raised concerns about the manufacturing sector saying it is in the negative.

"This section provides jobs, and such performances are dismal. India does not benefit from the FDI numbers which the government is throwing at us," he said.

He cited the National Statistical Office (NSO) data to suggest that the demand has decreased.

"If the government will only write off loans of the corporates and remain dismissive of the poor, the government's intent becomes clear," said Sharma.

He went on to allege that the present government has "ruined Indian economy".

He also suggested the government to increase the wages of the people involved in the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) to Rs 150 to Rs 500 a day.

(With inputs from IANS)