Former finance minister and senior Congress leader P Chidambaram Saturday said India's lower GDP growth rate of 4.5% as anticipated but cautioned that the third quarter "in all likelihood" will be worse.
"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.
India's GDP growth rate slowed down further to 4.5 per cent in the July-September quarter of this fiscal, data by National Statistical Office released on Friday showed. Despite all government efforts to arrest slowdown, this is the slowest growth rate the Indian economy has registered in six and a half years.
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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.
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(With PTI inputs).