Panaji: Former Union Finance Minister and Congress veteran P Chidambaram on Thursday said that the Indian economy is at its “lowest level” right now, it may recover in the financial year 2022-23, provided the central government does not take any “stupid decision”.
“Indian economy is at the lowest level. Please remember that last year we ended with negative growth in GDP… GDP declined,” PTI quoted Chidambaram as saying.
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“The government talks of a V-shaped recovery. GDP this year will not return to pre-pandemic levels. It is only when GDP goes back to pre-pandemic levels, you can say it is recovering,” he said.
Chidambaram, who has been appointed by the Congress as the party’s election observer for Goa and is currently in the coastal state to take stock of the party’s preparedness for the assembly elections due early next year, said the GDP The recovery may happen in the year 2022-23.
“But everything will depend on how many foolish decisions the government takes,” he said during a press conference in Panaji on the second day of his two-day visit to Goa.
Union Finance Minister Nirmala Sitharaman last week said she would not indulge in any numbers game about GDP growth, but the economy has shown signs of recovery and will recover.
Talking to the media after launching the ‘Urte Stars Fund’ in Uttar Pradesh’s capital Lucknow, Sitharaman said that the Prime Minister Narendra Modi-led government is ready to provide any help to bring the economy back on track.
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“At this point of time, I am not involved in any numbers game. We are hopeful that the economy will improve and the economy needs more help, we are ready to give.”
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