Congress stand on GDP data unfortunate: Jaitley

The Congress had questioned the veracity of the data and several economists, too, expressed surprise at the robust growth of the economy especially after demonetisation.

Arun Jaitley addresses a press conference in Varanasi on Thursday.

Union Finance Minister Arun Jaitley on Thursday termed “unfortunate” the Congress’s stand questioning the GDP data pegging the growth rate at 7.1% .

He was speaking to journalists on a visit to Varanasi that will go to the polls in the seventh and last phase of the Assembly elections in Uttar Pradesh on March 8.

The growth rate figures “are a matter of pride for every Indian, and it is unfortunate that the Congress appears disappointed by this achievement,” he said.

The Congress had questioned the veracity of the data and several economists, too, expressed surprise at the robust growth of the economy especially after the disruption caused by demonetisation.

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Mr. Jaitley dismissed these as attempts to spread misinformation. “I had said in November-December that the collection of excise and Value Added Tax had increased. Thus, in these figures of November-December, when there was a currency squeeze and remonetisation was happening, for the excise and VAT collections to rise, is a clear indication of an endorsement of our position that the country should move forward to more and more of the organised sector,” he said. That data was available and there was no scope for analysis, he added.

Mr. Jaitley said Uttar Pradesh was the most significant in the five States which have gone to Assembly polls and said the BJP would form the government there.

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