Delhi; 30 Nov 2019 (UMM): BJP member Subramanian Swamy, a Harvard-trained economist, said the real growth rate of Indian economy is 1.5%, and the finance minister Nirmala Sitharaman “doesn’t know any economics”.
“If you look at the economy with a discerning eye, you see that growth may have come down,” Sitharaman said in the Rajya Sabha on November 27. “But it is not a recession yet,”.
Swamy, however, said, “Do you know what the real growth rate today is? They are saying that it is coming down to 4.8%. I’m saying it is 1.5%.”
“If you see the press conferences, she is handing the mic to civil servants to answer,” Swamy said of Sitharaman to HuffPost India. “What is the problem in the country today? Poor demand. Supply is not the problem. But what did she do? She relaxes taxes for corporates. Corporators are flushed with supply. They will just use it to write off their debts. That is what they have done.”
Part of the problem is “The prime minister knows nothing about it. He is told ‘wonderful growth rate’.” Swamy said. His advisors were too afraid to tell him the truth.
“He doesn’t want me,” Swamy said of Modi. “He doesn’t want any minister to talk back to him, let alone in public, but in private cabinet meetings too.”
Related news:
7000 engineers, graduates and diploma-holders apply for 549 sanitary workers
No recession in Indian economy: FM
7 of top-10 most valued domestic firms suffered Rs 76,164 cr loss
