Ashoka Mody, Visiting Professor of International Economic Policy at Princeton University, who previously worked for the World Bank and the International Monetary Fund, has written an article that casts doubts on the GDP figure given out by Modi Sarkar.
In the article, the professor cites the difference between income and expenditure. This is normally called as discrepancy in the GDP figure. He writes that while income is shown as having grown, expenditure does not seem to have grown in tandem with income.
Another report in a business daily points to fall in diesel consumption for the fourth straight month. We all know that business runs on diesel. It is the life and blood of the transportation industry and any decline in sales points to a decline in transportation activity, which in turn shows that the movement of goods has fallen for the fourth straight month.
The decline is sharp, it has fallen by 13%. Yet Modi Sarkar is claiming to the world that India’s GDP is growing by leaps and bounds and India has become the fastest growing economy in the world! The two are contradictory statements, diesel sales should be booming if our economy was growing at 7.8%.
It is pertinent to note that 1% of GDP translates to around 1,50,000 Crores in value. The professor estimates that the real GDP figure is around 4.5% and not 7.8%.
According to Professor Ashoka Mody, this is fake posturing for G-20 summit where Modi wants to show the world that he has achieved what was thought not to be possible.
You can read Professor Ashoka Mody’s article here
The report on decline in diesel sales can be read here
For people familiar with Narendra Modi, this will not come as any shock, this is the routine that Modi Sarkar has been following over the last nine years that it has been in power.
