Indian Congress says PM Narendra Modi got it wrong on GDP

29 Sep, 2015 10:00 am

NEW DELHI (92 News) – India’s Gross Domestic Product (GDP) became a subject of political debate following Prime Minister Narendra Modi’s remarks in the US, that India’s GDP is $8 trillion, the Congress said that when the UPA government had left the office, India’s GDP was $2.27 trillion, and India’s GDP today was close to $2.50 trillion.

Senior Congress leader Anand Sharma said that a “misplaced euphoria” was being created by the Narendra Modi government regarding India’s prospects of getting a permanent seat in the expanded United Nations Security Council (UNSC).

Senior Congress leader and former Union Minister Anand Sharma said that prime minister Modi’s officials should give him the right papers at the right time so that he does not make such mistakes because he is not speaking in the private dining room or not reporting to the RSS leadership … The whole world is watching what the PM of India has to say.

According to the latest available data from the World Bank, India’s GDP was $2.067 trillion in 2014. On Purchasing Power Parity (PPP) basis, according to the latest available data — from the 2011 International Comparison Program in which the World Bank is involved — India went from the 10th largest economy in 2005 to the third largest, moving ahead of Japan, in 2011 with $5.75 trillion GDP.

Sharma further said that while, according to Modi, the amount of Foreign Direct Investment that had come to India over the past one year represented an unprecedented 40 per cent increase over the previous year, the truth was that the growth was actually lower at 23 percent.

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