Wednesday 31 August 2016
facebook.com/Outlookindia twitter.com/outlookindia digimag.outlookindia.com instagram.com/outlookindia youtube.com/user/OutlookMagazine

Chidambaram Says Credit for Q1 Growth Goes to UPA

New Delhi

Former Finance Minister P Chidambaram today said the high growth that Indian economy has logged in the first quarter of the current fiscal was on account of the UPA policies and the new government must give it the due credit.

"Can the Modi government name one measure that was implemented after May 26 that yielded results by June 30? They cannot. Hence the credit for Q1 belongs entirely to the UPA government. The NDA should stop being churlish and give credit where it is due," said the senior Congress leader.

Improved performance of mining, manufacturing and services sectors pushed the country's economic growth rate to two-and-half year high of 5.7 per cent in the first quarter of 2014-15.

On Saturday, Chidambaram had said the 5.7 per cent growth rate vindicates position of the previous UPA government that the decline in GDP had been halted in the middle of 2013-14 as well as its forecast that the upturn will take place in the beginning of 2014-15.

He had said a number of steps were taken by the UPA government to revive manufacturing (reduction of excise duty), electricity (coal linkages) and mining sectors, he said.

Besides, a number of reforms were undertaken in the financial services sector and the these are the lead performing sectors of the economy as per the latest CSO data, he had said.

READ MORE IN:
SECTION: Business
OUTLOOK 01 September, 2014
© Copyright PTI. All rights reserved. Republication or redistribution of any PTI content, including by framing or similar means, is expressly prohibited without their prior written consent.
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store

Post a Comment

You are not logged in, please Log in or Register
  • Daily Mail
THE LATEST ISSUE
CLICK IMAGE FOR CONTENTS
OUTLOOK ON TWITTER
POLLS

In 1999, India and France entered into a $3.5 billion deal for the supply of these submarines. The first of the 6 subs is out on sea trials for the last three months and is to be commissioned later this year. At this stage, a newspaper in Australia has revealed secret data on the submarines, plausibly stolen from India. Indian Defence authorities have ruled out any pilferage of data from India.

POLL STARTED ON: Aug 26, 2016
Quiz
Brazil’s Rio de Janeiro is hosting the 31st Olympic Games from August 5 to 21. This is the first Olympics being held in South America and is going on even as a majority Brazilians are unhappy with their rulers. Here’s a quiz on some random Olympic facts and related trivia.
QUIZ STARTED ON: Aug 11, 2016
Advertisement