Modi Proud About GDP But What’s The Reality?

Indian Prime Minister Narendra Modi had recently commented that the Indian GDP had been growing at a very good rate, and this is very positive development for everyone concerned.

Prime Minister Narendra Modi described the growth as a herculean feat calling it a major achievement for the country. He said the figures reflected not only the strength of the economy but also the collective strength and resilience of the people of India.

According to the Prime Minister, India achieved this growth despite global uncertainties, rising oil prices and supply-chain challenges.

However, recent comment from leading economist, Subash Chandra Garg confirms that the market capitalisation went from ₹86 lakh crore to ₹80 lakh crore. This indicates that there is a 2.6% drop in the revenue generation and overall financial wealth of the country.

So this is rising concerns and serious doubts about the claims that are being made by the Indian government regarding the first growing GDP.

While the government has been actively publicising that 7.8% is the actual GDP of the country, the reality is likely to be slightly different. This is exactly what is being acknowledged by a few leading economists, but there is no official word on this yet from the Indian government.

While there are concerns about the actual GDP of the country, we have to patiently wait and see what would be the next reaction from the authorities on this matter.