Dr. Swamy questions GDP figures, says growth rate minus 15 per cent

New delhi date. 01 March 2021, Monday

For some time now, BJP MP Dr Subramaniam Swamy has been taking a hard line against his own government. Now, Dr Swamy has questioned the GDP figures released after the recently concluded December quarter.

As per the announcement made by the government, GDP has increased by 0.4%. GDP was minus 24% two quarters ago and now the country is said to be out of recession according to the latest figures.

Although Dr. Swamy says that if viewed according to the Laspeyres Price Index, GDP growth in the quarter ended December is minus 10% and if the Paasche Index is used, the figure could go as low as minus 15%. This is because both the indexes include MSMEs and the unorganized sector and the downturn is on both these sectors.

The GDP is projected to grow by about 8% in the current financial year. The economy grew by minus 24% after the last June quarter. However, GDP remained at minus 7.5% after the quarter ended September.