The Finance Minister is partially right, for the country’s reserves are better than many other emerging economies.
Congress partisans, who have all along questioned the legitimacy of the revised GDP series since it was introduced by the Modi government in 2015, have embraced the new back-series estimates — unofficial though they are — as a validation of the UPA’s shepherding of the economy.
It slowed down after the boom years and thereafter,” Jaitley said in his Facebook post on Sunday.
Domestic volumes saw a 12.4 per cent growth in the quarter after a 9 per cent drop in the corresponding quarter of last fiscal, which witnessed transition and destocking effects of GST.