Jairam Ramesh hits out at Centre after NSO predicts 8.2 % growth rate in 2025-26 Q2, cites IMF report
Earlier on Friday, India’s real GDP was estimated to have grown at 8.2 per cent in the July-September quarter of fiscal 2025-26, compared to 5.6 per cent in the same quarter of the previous fiscal, according to NSO data.
Jairam Ramesh wrote about ‘X’: “It is ironic that the quarterly GDP figures were released just after the IMF report gave the second-lowest C grade to India’s national accounts statistics in its annual assessment of the Indian economy.”
Referring to the IMF report, Jairam Ramesh emphasized that the figures in the Indian economy continue to be disappointing and pointed out that high GDP growth rates are definitely not sustainable unless there is a new momentum in private investments.
“The figures continue to be disappointing. There has been no increase in Gross Fixed Capital Formation. High GDP growth rates are not sustainable unless there is a renewed impetus in private investment. This is clearly unprovable,” he said.
The Congress leader claimed that the GDP deflator was unrealistically low and the official deflator indicated inflation of only 0.5 percent, but ordinary households were facing high price increases. Ramesh stated that the government has understated inflation to make GDP growth look better.
“Unrealistic low GDP deflator – which is inflation rate A rate of just 0.5 percent is in stark contrast to the experience of millions of households bearing the brunt of the crushing price rise of daily consumer goods,” added the post ‘X’.
