Prime News, National, Karnataka, Bengaluru, May 7:- Taking a dig at the state of economic affairs under the Narendra Modi-led National Democratic Alliance (NDA) government, former Prime Minister Dr Manmohan Singh on Monday said that the economy is growing below its potential.
“The ‘intentions’ of the Modi government, while claimed to be good, have resulted in massive losses for our country. The United Progressive Alliance (UPA) delivered an average growth rate of 7.8 percent despite turbulent global conditions. The NDA, on the other hand, has managed lesser growth rate despite a favourable international climate and low oil prices. In fact, growth rate under the NDA is lower in spite of the change in methodology, which paints a rosier picture than reality,” Dr Manmohan Singh said.
The former Prime Minister also lashed out at the BJP government for hasty implementation of the Goods and Services Tax (GST) and demonetisation, calling them “avoidable blunders.” –(Inputs: Agencies,NGB)