Economic Survey 2022-23 | Congress questions growth claims

Randeep Singh Surjewala said the four drivers of the economy remain largely unaddressed in the Economic Survey. File
| Photo Credit: The Hindu

The Congress on Tuesday reacted to the Economic Survey for 2023 and asserted that “bluster and lofty” words would not make an “unwell economy well”.

In a statement, Congress spokesperson Gourav Vallabh questioned even the revised growth claims for 2023-24 by citing the gap between estimates and the actual growth figures of the past.

Mr. Vallabh said that the Economic Survey of 2022 predicted a GDP growth rate of 8-8.5% for year 2022-2023. But the actual figure was around 7%.

With the Economic Survey of 2023 predicting a growth rate between 6% and 6.8%, the actual growth rate could be 5.44%, he said.

“So, 6.1% GDP growth is the new normal. At this growth, we will achieve GDP of $5 Trillion by 2029,” Mr. Vallabh said.

In a series of tweets, Congress general secretary Randeep Singh Surjewala said the four drivers of the economy —consumption, exports, manufacturing and private investment — remain largely unaddressed in the Economic Survey.

“Bluster & lofty words of ‘all is well’ won’t make an unwell economy well,” Mr. Surjewala said, adding that GDP growth under the Modi government was sliding for eight quarters even before the COVID-19 pandemic hit the Indian economy.

The Congress leader said unemployment, high inflation and crashing household budgets have impacted consumption adversely. “Until there is money in hands of People & Consumption rises, economic revival is a pipe dream,” he posted on Twitter.

Mr. Surjewala said the entire Economic Survey was laced with excuses of non-performance. “No succour to common people. Blame COVID. Blame Ukraine-Russia war for price rise. Blame global slowdown to India’s falling GDP! Modi Govt’s #EconomicSurvey is just an excuse script for tomo’s Budget!” he tweeted.