Priyanka Gandhi: Congress leader priyanka gandhi bjp government puncher the economy: The Modi government at the center is being surrounded on the front of the economy from all around. On one hand, while it is struggling to get the economy back on track, allies and leaders of opposition parties are also questioning the economic policies of the Modi government. Along with the Congress, BJP leader Subramanian Swamy has also put the policies of the government in the dock.
However, Congress leader Priyanka Gandhi has made a big attack on the Modi government, making the economy an issue. Priyanka Gandhi said that it is clear from the GDP growth rate that the BJP government, which is sounding good days, has punctured the economy. There is neither GDP growth nor strength of rupee. Employment is missing. Now let us clarify that whose handiwork is it to destroy the economy?
Modi government has suffered a tremendous setback
Let us know that on the economic front, the Modi government has suffered a tremendous setback. The growth rate has reached a seven-year low. GDP has reached 5 percent in the first quarter of the current financial year as compared to 5.8 percent in the previous. The Congress has surrounded the Modi government regarding the falling growth rate and has also raised questions on the 5 percent figure.
Actually, the country has suffered a major setback on the economic front. The economic growth rate has come down to just five percent in the first quarter of 2019-20. The figures in manufacturing, construction and agriculture sectors are quite disturbing. The condition of GDP has reached the worst position in the last seven years. A year ago in the same quarter GDP was 8 percent. The condition of manufacturing, construction and agriculture sector is being described as bad. The question is, how will the $ 5 trillion economy be built in five years?
According to the data released by NSO, the growth rate in the first quarter i.e. April-June has come down from 5.8 percent to 5 percent. The GDP was earlier estimated to be 7 per cent for the current financial year. A year ago in the same quarter, the GDP rate was 8 percent. That is, a full three percent decline has been recorded in a year.
The manufacturing sector has grown at a mere 0.6 percent compared to 12.1 percent in the last financial year (2018-19). At the same time, the agriculture and fishing sector has grown at a rate of 2 percent compared to 5.1 percent in the first quarter of the last financial year. If we talk about the construction sector, there was a growth of 5.7 percent, which is more than 3 percent decline compared to 9.6 percent in the first quarter of the last financial year.
Financial, real estate and professional services grew at a rate of 5.9 percent compared to 6.5 percent in the first quarter of the last financial year. Other sectors including electricity, gas, water supply have seen moderate growth. The growth rate of the sector in this quarter is 8.6 as compared to 6.7 per cent in the first quarter of the last financial year.
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