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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Calling political contest ‘vote jihad’ wrong, Hindu society must counter it: Ram temple treasurer
Pune (PTI): Swami Govinddev Giri, the treasurer of Shri Ram Janmabhoomi Teerth Kshetra Trust, said on Sunday that it was wrong to describe a political fight as “vote jihad”, asserting that the Hindu society must counter it.
His comments come amid Maharashtra Deputy Chief Minister Devendra Fadnavis’s attacks on “vote jihad” and calls to respond to it with ‘dharma-yudh’.
Speaking to reporters here, the Hindu seer said directions about whom to vote were earlier discretely issued from religious places by distributing pamphlets but slogans like ‘vote jihad’ are now being openly given.
The religious leader said 'jihad' is equivalent to ‘dharma-yudh’.
“Calling a fight between two political parties 'yudh' is not right. But since ‘vote jihad’ is being openly advocated, it must be countered by the Hindu society without hesitation,” he said.
Voting is the right and responsibility of good citizens, said the religious leader from Ayodhya Ram temple.
“Being a true Hindu is pro-humanity, and treating everyone equally like Chhatrapati Shivaji Maharaj,” he said, adding, “We should tolerate injustice as well.”
Earlier, referring to a purported appeal by an Islamic scholar for “vote jihad” against the BJP-led Mahayuti government, Fadnavis had called for a “dharma-yudh of votes” to counter it.
During a few rallies in Pune ahead of the November 20 assembly polls, Fadnavis had played a video by Islamic scholar Sajjad Nomani and claimed that the slogan of “vote-Jihad” was raised.
It is being said that a person who votes for the BJP must be ostracised, Fadnavis claimed.
“If these people are trying to do vote jihad, if they are saying they will destabilise the government through vote jihad, then you will also have to do dharma-yudh of votes,” Fadnavis had said in a swipe at the opposition Maha Vikas Aghadi.
