Q2 GDP growth rate low as predicted, Q3 to be worse: Chidambaram

Senior Congress leader P Chidambaram on Saturday (November 30) said the lower GDP growth rate of 4.5 percent was as predicted but warned that third-quarter will be worse.

India’s economic growth slipped further to hit an over-six-year low of 4.5 percent in the July-September quarter, according to official data released on Friday.

“As predicted widely, GDP growth in Q2 has come lower at 4.5%. Yet the Government says ‘All is well’. Q3 will not be more than 4.5% and in all likelihood will be worse,” Chidambaram said in a tweet posted by his family on his behalf.

The former finance minister, who is lodged in jail in cases of corruption and money laundering, also urged the people of Jharkhand, where polling is underway, to vote against the BJP to record their rejection of its policies.

“People of Jharkhand must vote against the BJP and record their rejection of BJP’s policies and model of governance. They have the first opportunity to do so,” he tweeted.