New Delhi, December 1: Former Finance Minister P Chidambaram attacked the Narendra Modi-led central government on Saturday and said that it has failed to deliver on its promise of a double-digit growth in the last four years. Chidambaram further added saying that the Central government will not manage it even in the remaining six months of its term. "This government promised a double-digit growth rate. They have not achieved it in four years and will not achieve it in the last year also", Chidambaram was quoted by ANIGDP Slumps to 7.1% During July-September 2018 Vs 8.2% in First Quarter.

Chidambaram's remarks came a day after official data showed that India's GDP growth rate declined to 7.1 per cent during the July-September quarter, compared to April-June's 8.2 per cent. According to a report by IANS, the senior Congress leader said there was a sense of crisis in every sector including banking, industry, construction and real-estate among others. Niti Aayog VC Accepts P Chidambaram's Challenge for Debate on Revised GDP.

Making fun of BJP over the GDP growth data, the Congress leader said it did not warrant any jubilation by the ruling party. In a series of tweets,  Chidambaram stated that the GDP growth in Q2 of 2018-19 was a good 1 per cent lower than in Q1. Adding further he said, the 8.2 per cent growth rate in April-June quarter was on a very low base in the previous year and did not warrant the jubilation of the BJP.

According to government data released Friday, the Gross Domestic Product (GDP) at constant prices (2011-12) had grown at 6.3 per cent in the July-September quarter of the last fiscal. Reports informed that the economy of India grew at 7.1 per cent in the July-September quarter, lowest in three quarters, but still remained ahead of China to retain the tag of the world's fastest-growing major economy.

(The above story first appeared on LatestLY on Dec 01, 2018 03:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).