GDP growth rate at sobering 6.7 per cent, banking system bankrupt: Chidambaram
New Delhi, June 10: Senior Congress leader P.Chidambaram on Sunday slammed the Narendra Modi government for its poor showing on economic indicators after four years rule, noting the GDP growth rate was at a "sobering" 6.7 per cent and the "banking system bankrupt" with gross NPAs rising from Rs 2,63,015 crore to Rs 10,30,000 crore.
"On the day after the Central Statistics Office (CSO) released the growth numbers for 2017-18, the media played up just one number: 7.7 per cent," he said, in a series of tweets.
"At first blush it appeared to be the GDP growth number for the whole year 2017-18, and was certainly impressive. Actually, it was the growth number for just one quarter, Q4, and the uptick was also because of the low base effect. For the whole year, however, the GDP growth rate was a sobering 6.7 per cent," he said.
"At the end of four years, the government has switched over to a modest Saaf Niyat, Sahi Vikas (Clean intention, right progress)!.
"At the end of four of the five years allowed to a government, the people cannot be expected to judge a government by its intent. The correct test is outcomes. Look at the boxes with the graphs. And every line, after showing promise in the first year, has dipped.
"From 8.2 per cent to 6.7 per cent in two years, it is a fall of 1.5 per cent - exactly what I had predicted after demonetisation," he noted.
"Gross NPAs have risen from Rs 2,63,015 crore to Rs 10,30,000 crore and will rise more. The banking system is practically bankrupt. I have not come across a banker who will willingly sanction a loan; nor an investor who will confidently borrow money," he added.
Chidambaram also said credit growth dipped drastically from 13.8 per cent to 5.4 per cent before recovering somewhat in 2017-18.
"Within credit growth, it is credit to industry that is important. In the last four years, annual credit growth rates to industry were 5.6, 2.7, - 1.9 and 0.7 per cent," he said.
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Karnataka Milk Federation enters Delhi-NCR, offers competitive pricing on Nandini products
New Delhi, Nov 21: Karnataka Chief Minister Siddaramaiah on Thursday launched the Karnataka Milk Federation's (KMF) Nandini brand milk products in the Delhi-NCR market, pricing them marginally lower than competitors to gain a foothold in the region.
The cooperative will retail four cow milk variants, curd, and buttermilk from Friday, with competitive pricing that undercuts established players like Mother Dairy and Amul.
Cow milk will be sold at Rs 56 per litre, full Cream Milk at Rs 67 per litre, Standardised Milk at Rs 61 per litre, Toned Milk at Rs 55 per litre, and curd at Rs 74 per kg.
"We have surplus milk in the state. KMF along with Mandya Milk Union will market surplus milk of 3-4 lakh litres per day in Delhi-NCR," Siddaramaiah told reporters after launching the products.
The federation currently collects 100 lakh litres of milk daily, with local consumption at 60 lakh litres, leaving a surplus of 40 lakh litres for expansion into new markets.
However, the Chief Minister acknowledged the challenges of transporting milk over 2,500 km, which takes 50-54 hours.
There is a need to find new markets for surplus milk and gradually the KMF should be able to sell 5-6 lakh litres per day in Delhi-NCR, he added.
KMF Chairman LBP Bheemanaik assured that milk quality would be maintained during transit.
The federation has already partnered with 40 dealers in the Delhi-NCR region to facilitate sales, he added.
With a robust infrastructure of 26.76 lakh milk producers, 15,737 dairy cooperative societies, and 15 district milk unions, KMF has a turnover of Rs 25,000 crore and exports dairy products to over 25 countries.
State Animal Husbandry Minister K Venkatesh and Agriculture Minister N Cheluvarayaswamy were present at the product launch.
ದೇಶದ ಹಾಲು ಉತ್ಪಾದನೆಯಲ್ಲಿ ಗುಜರಾತ್ ಮೊದಲ ಸ್ಥಾನದಲ್ಲಿದ್ದರೆ, ಕರ್ನಾಟಕ ಎರಡನೇ ಸ್ಥಾನದಲ್ಲಿದೆ.
— Siddaramaiah (@siddaramaiah) November 21, 2024
ದೆಹಲಿ ನಗರದಲ್ಲಿ ಕೆ.ಎಂ.ಎಫ್ ಮತ್ತು ಮಂಡ್ಯ ಹಾಲು ಒಕ್ಕೂಟಗಳು ಸೇರಿಕೊಂಡು ವಿವಿಧ ಶ್ರೇಣಿಯ ಹಾಲನ್ನು ಮಾರುಕಟ್ಟೆಗೆ ಬಿಡುಗಡೆ ಮಾಡಿವೆ. ದೆಹಲಿಯ ನಿವಾಸಿಗಳಿಂದ ನಂದಿನಿ ಉತ್ಪನ್ನಗಳಿಗೆ ಅತ್ಯುತ್ತಮ ಸ್ಪಂದನೆ ದೊರೆಯಲಿದೆ ಎಂಬ ವಿಶ್ವಾಸ ನನಗಿದೆ.… pic.twitter.com/yUmTQknGzD
