P Chidambaram claims 10 years of UPA rule saw best decadal growth

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New Delhi | February 24, 2018 5:02 PM

The former finance minister of India, P Chidambaram, on Saturday, claimed that the participants of a business meet have opined that the 10 years of the UPA rule saw the best decadal growth, and the Gross Domestic Product in current prices increased four times in rupee terms.

p chidambaram, chidambaram on gdp, chidambaram on indian economy, pm modi, narendra modi, arun jaitley, india news, economy newsThe senior Congress leader said that 10 years of the UPA rule saw the best decadal growth. (Source: PTI)

The former finance minister of India, P Chidambaram, on Saturday, claimed that the participants of a business meet have opined that the 10 years of the UPA rule saw the best decadal growth, and the Gross Domestic Product in current prices increased four times in rupee terms. The senior Congress leader who had served as the finance and home minister in the UPA government took to Twitter to express his views on the matter. “For participants in the Global Business Summit: best decadal growth was under the UPA government between 2004 and 2014,” he wrote while adding, “In 10 years, the GDP in current prices increased THREE times in dollar terms.”

This tweet came one day after prime minister Narendra Modi while speaking at the same event, had said that his government’s economic agenda was “job oriented” and aimed at bringing “people centric growth.” PM Modi had mentioned about the announcements made in his government’s last full-year budget, including pro-agriculture steps like paying farmers a price that is 50 per cent more than the cost of production.

“Some economists are speculating about price rise (because of this decision). These economists must also consider about our duty towards our ‘annadata’ (referring to farmers),” he said. “I feel we should support every decision taken to increase farmer’s income,” the prime minister had added.

Talking about the major decisions taken by the NDA government, PM Modi had said that in last four years, the government has stressed on job centric, people centric growth.

PM Modi had said India has turned around in last four years from being put in five most fragile economies globally few years back, and the country is now being seen as growing to a USD 5-trillion economy soon.

“India is performing well on all economic aspects,” he said, adding FDI inflows have crossed USD 209 billion during last four years. The share of India in world GDP increased from 2.4 per cent in 2013 to 3.1 per in less than four years. It now contributes 21 per cent to the global growth with just 3 per cent share in the world economy, he said.

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