Chidambaram pokes fun at BJP for celebrating GDP data

TIL Desk/Business/New Delhi/ Congress leader P Chidambaram poked fun at the BJP Saturday over the GDP growth data, saying it did not warrant any jubilation by the ruling party.

In a series of tweets, the former finance minister said that as expected, the GDP growth in the July-September quarter (Q2) of 2018-19 was a good one per cent lower than in the April-June quarter (Q1).

“Q1 number was on a very low base in the previous year. It did not signify a bump in growth and did not warrant the jubilation of the BJP three months ago,” he said.

Chidambaram said going forward, it was likely that the October-December (Q3) and January-March (Q4) quarters would register similar growth rates unless there were unexpected shocks. “The new normal for the Indian economy is 7 per cent and 2018-19 will be a normal year,” he said.