Higher GDP growth under Manmohan Singh removed from govt website
New Delhi : Government website has allegedly removed data of higher GDP growth under United Progressive Alliance's (UPA), said a media report.
The National Democratic Alliance (NDA) made 2010-11 as base year to calculate the GDP from earlier 2004-05. The back series GDP growth report extrapolated figures for the UPA tenure using the changed base year.
The report was published on the ministry's website on July 25; it said India grew at 10.8 per cent in 2010-11 (when Manmohan Singh was prime minister) if the same base was used as the benchmark.
"Truth has triumphed," former Union Minister P Chidambaram said last week. "The back series calculation of GDP has proved that the best years of economic growth were the UPA years 2004-2014."
"I wish the Modi government well in its fifth year. It can never catch up with UPA I, but I wish it catches up with UPA II," he said.
In a Facebook blog published Sunday, Union Minister Arun Jaitley said India grew "at a high rate" between 2003 and 2008 thanks to the work done by the outgoing Vajpayee government, "continuous incremental reforms from 1991 to 2004", growing exports and conducive global tailwinds.
"However, when this honeymoon ended, growth started slipping down and to ensure that growth is maintained, two significant steps were taken," Jaitley said. "Firstly, fiscal discipline was compromised and the banking system was advised to go in for reckless lending notwithstanding the fact that it would eventually put the banks at a risk. And yet when the UPA moved out of power in 2014, the last three year record, even in terms of growth, was less than modest."