GDP Numbers in UPA Era Slashed by Modi Government; Congress Says BJP Manipulating Data, Arun Jaitley Calls Current Numbers ‘More Credible’

New Delhi, November 29: After releasing the Gross Domestic Product (GDP) data in August, the government again revised the growth data for the 2005-12 fiscal years and downgraded India's GDP during the previous Congress-led UPA regime. The government recalibrated the data of past years using 2011-12 as the base year instead of 2004-05 and lowered the nation's growth rate under Congress' leadership. The recalculated numbers sparked a row ahead of the upcoming polls in the nation. Reacting on the revised data, Union Minister Arun Jaitley on Thursday said that the new GDP series are more credible and reflective globally. Ahead of 2019 Lok Sabha Elections, Govt Slashes GDP Growth Rate During UPA Era.

The revised numbers have been released ahead of the 2019 general elections. Jaitley said the CSO maintains an arm's length distance from the finance ministry and has far greater credibility. He said this data revised the GDP growth in the last 2 years of UPA government. At that time, revision had made the GDP grow upwards, at that time it was welcomed by the people in the then government. India's GDP Growth Rate Peaked to 10.8% Under Manmohan Singh's Tenure in 2006-07, Shows Revised Data.

"Now in continuation of same exercise, applying same yardstick, new series has been made applicable from 2004-2005. So growth on the basis of new series maybe revised upwards or downwards depending on applicability of the data, the formula is the same", he said.

Take a look at the tweets:

The Central Statistics Office (CSO) estimated that India's GDP grew by 8.5 per cent in the financial year 2010-11 (April 2010 to March 2011) and not at 10.3 per cent as previously estimated. According to a PTI report, the data revealed that a 9.3 per cent growth rate each in 2005-06 and 2006-07 was lowered to 7.9 per cent and 8.1 per cent respectively, while 7.7 per cent rate was now estimated for 2007-08 instead of 9.8 per cent.

"Congress and P Chidambaram’s only argument that our growth was better than yours stands demolished when brought on par, basis GDP growth measured by new series, over the UPA and NDA eras!", the BJP tweeted.

Congress chief spokesperson Randeep Surjewala termed the release of the data as a “classic” case where “the operation is successful but the patient is dead”. According to a report by Hindustan Times, Surjewala said that the Modi Government and its puppet Niti Aayog want the people to believe that 2+2=8. Such is the gimmickry, jugglery, trickery and chicanery being sold as ‘back series data’.  Surjewala alleged the entire GDP data released by the Centre reflects the desperate attempt of a “defeatist Modi government”.

(The above story first appeared on LatestLY on Nov 29, 2018 12:42 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).