Economic Survey reaffirms RBI view on GDP growth rate: BJP

The BJP today said the Economic Survey has reaffirmed the RBI contention that GDP growth rate stands at 5 per cent and maintained that the government cannot sustain its poverty alleviation programmes with this rate.

"The Economic Survey has said the GDP growth rate is 5 per cent. This is a matter of serious concern. It brings us close to reality as when the RBI had said growth would be at 5 per cent the government had questioned its veracity. The Survey reaffirms the RBI view," Leader of Opposition in Rajya Sabha Arun Jaitley told reporters.

He termed the Economic Survey growth figures as a "warning bell" as these came down from 9 to 5 per cent.

"The government's poverty alleviation schemes cannot be sustained at 5 per cent. It is about time the polity drew a programme on how to get back to 9 per cent growth. Unless a sustained 9 per cent for a decade poverty cannot be removed and there will not be enough funds to sustain these programmes," Jaitley said.

The main Opposition declared that it will anxiously await the budget of the Finance Minister tomorrow.

Jaitley maintained that government will also have to go for a serious of reforms to ensure "competitive and low cost manufacturing" to meet the international challenge in this sector.

BJP spokesperson Shahnawaz Hussain said the Economic Survey has reflected the reality to the government on the state of the economy.

"This is an eye-opener to the government and exposes it. BJP's charge that growth has slowed down has been proved right. There are no signs of the growth rate reviving under the UPA government," Hussain said.

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