Soon they'll ask 'why no-one's asking about Pak's economy?': Sitaram Yechury slams BJP

Communist Party of India (Marxist) leader Sitaram Yechury on Tuesday, January 14, in a series of tweets, slammed Prime Minister Narendra Modi and his government over the collapse of GDP and the rise in inflation. In his recent tweet, he took a dig at PM Modi and said, "He will soon come up with an argument over 'Why are you not talking about Pakistan's economy?'" 

According to Yechury, talking about Pakistan is PM Modi's only argument to "all the damage that he has done." 

Earlier tweets

In his earlier tweets, the CPI(M) leader slammed the government and stated that it is not only incapable of handling the economy, but it is also "complicit in its destruction". He further stated that its the common man who is suffering and accused PM Modi and the government of being "unconcerned" and "unaffected." 

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Centre's advanced estimate for 2019-20

According to the first advance estimates released by the Centre on January 7, India's real GDP (Gross Domestic Product) growth during the financial year 2019-2020 is expected at 5 per cent as compared to last year's 6.8 per cent. This estimate is in line with the Reserve Bank of India's (RBI) own revised estimate in December. The economy grew by 4.5 per cent, the lowest in six years, in the second quarter (July-September) of this fiscal in weakening from the previous quarter's 4.8 per cent.

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Furthermore, the Gross Fixed Capital Formation (GFCF) at Current Prices is estimated at ₹57.42 lakh crore in 2019-20 as against ₹55.70 lakh crore of the previous fiscal. GFCF is essentially the net investment rate in the economy in assets like machinery, industrial equipment, new technology, and so on.

Last year, India's second-quarter GDP (July-September) growth rate stood at 4.5 per cent - the slowest growth in almost seven years. The previous quarter (April-June) GDP numbers were at 5% and the Q2 (2018-2019) stood at 7 per cent. 

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