P Chidambaram cautions govt may attack IMF, Gita Gopinath for lowering India's growth estimate to 4.8% for this fiscal

IMF Chief Economist Gopinath was one of the first to denounce demonetisation, he noted.

Press Trust of India January 21, 2020 13:28:35 IST
P Chidambaram cautions govt may attack IMF, Gita Gopinath for lowering India's growth estimate to 4.8% for this fiscal
  • Chidambaram alleged that the growth figure of 4.8% given by the IMF is after some 'window dressing' and he won't be surprised if it goes even lower

  • IMF Chief Economist Gopinath was one of the first to denounce demonetisation, the former finance minister noted

  • The IMF lowered India's economic growth estimate for the current fiscal to 4.8%

New Delhi: With the IMF lowering India's economic growth estimate for the current fiscal to 4.8 percent, senior Congress leader P Chidambaram on Tuesday claimed an attack on the world body and its chief economist Gita Gopinath by government ministers was imminent.

He also alleged that the growth figure of 4.8 percent given by the International Monetary Fund (IMF) is after some "window dressing" and he won't be surprised if it goes even lower.

"Reality check from IMF. Growth in 2019-20 will be below 5 percent at 4.8 percent," Chidambaram said in a series of tweets.

P Chidambaram cautions govt may attack IMF Gita Gopinath for lowering Indias growth estimate to 48 for this fiscal

File image of P Chidambaram. PTI

"Even the 4.8 percent is after some window dressing. I will not be surprised if it goes even lower," the former finance minister said.

IMF Chief Economist Gopinath was one of the first to denounce demonetisation, he noted.

"I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath," Chidambaram said.

The IMF lowered India's economic growth estimate for the current fiscal to 4.8 percent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.

In October, the IMF had pegged India economic growth at 6.1 percent for 2019.

Listing decline in rural demand growth and an overall credit sluggishness for lowering of India forecasts, Gopinath, however, had said the growth momentum should improve next year due to factors like positive impact of corporate tax rate reduction.

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