Report showing higher GDP growth during Manmohan era removed from govt website
New Delhi : A report that showed higher GDP growth during the United Progressive Alliance's (UPA) tenure in government has been removed from the Statistics and Programme Implementation ministry's website.
The National Democratic Alliance (NDA) government changed the base year for GDP calculation to 2010-11 from 2004-05 -- the benchmark used by the UPA. The back series GDP growth report extrapolated figures for the UPA tenure using the changed base year.
The report was published on the ministry's website on July 25; it said India grew at 10.8 per cent in 2010-11 (when Manmohan Singh was prime minister) if the same base was used as the benchmark.
"Truth has triumphed," former Union Minister P Chidambaram said last week. "The back series calculation of GDP has proved that the best years of economic growth were the UPA years 2004-2014."
"I wish the Modi government well in its fifth year. It can never catch up with UPA I, but I wish it catches up with UPA II," he said.
This triggered a political war of words. The BJP went on the offensive as the report's findings were attacking the very foundation of its narrative on the 'growth story during the NDA being a marked improvement over the UPA regime'.
In a Facebook blog published Sunday, Union Minister Arun Jaitley said India grew "at a high rate" between 2003 and 2008 thanks to the work done by the outgoing Vajpayee government, "continuous incremental reforms from 1991 to 2004", growing exports and conducive global tailwinds.
"However, when this honeymoon ended, growth started slipping down and to ensure that growth is maintained, two significant steps were taken," Jaitley said. "Firstly, fiscal discipline was compromised and the banking system was advised to go in for reckless lending notwithstanding the fact that it would eventually put the banks at a risk. And yet when the UPA moved out of power in 2014, the last three year record, even in terms of growth, was less than modest."
S.B.I. ANALYSIS
The Economic Research Department of the largest public sector bank - the State Bank of India -- published a quick analysis of the data, claiming that India clocked the highest growth of 10.8 per cent in 2010-11, and that it could sustain the high growth due to high inflation.
The department said, "In fact, most of the information about the GDP series was already in the public domain (for example, we already had a 10.3 per cent growth in 2010-11 as per the old data, now revised to 10.8 per cent) and thus the buzz about the recent data is intriguing."
The report has created red faces in the goverment as it was presented by a government-backed forum headed by the economist Sudipto Mundle.
Within the government, the view is that the report -- which became public just ahead of the 2019 elections -- will become part of the Opposition's poll campaign against Prime Minister Narendra Modi and his party.
courtesy : indiatoday.in
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Ahead of polls, Mamata says her govt will constitute development boards for 5 communities
Kolkata (PTI): West Bengal Chief Minister Mamata Banerjee on Friday announced that her government would constitute new cultural and development boards for five communities.
Banerjee, who made the announcement ahead of the assembly polls, said the boards will safeguard the customary rights and ensure socio-economic growth of these communities.
"I am pleased to announce that our government intends to constitute soon five new Cultural and Development Boards for the Munda (ST), Kora (ST), Dom (SC), Kumbhakar (OBC) and Sadgope (OBC) communities," she said in a social media post.
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Stating that these communities are integral to the vibrant fabric of the state, the CM said, "The boards will protect their unique languages and traditions while ensuring better education, healthcare, and jobs."
Banerjee said that since 2013, her government has established many such boards for our weaker communities, ensuring their all-around development.
"We remain dedicated to ensuring no community is left behind," she said, asserting that her government's goal is "to bring a smile to every face through inclusive progress and unwavering support".
Elections to the 294-member assembly in West Bengal are expected to be held in April, with Banerjee's TMC eyeing a fourth straight term in power.
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