The senior Congress leader wrote on Twitter that people should prepare themselves for government ministers to attack the IMF and IMF chief.
Congress leader P Chidambaram has predicted a verbal attack on the International Monetary Fund (IMF) Chief Economist Gita Gopinath on January 21 after she spoke in the negative about the condition of the Indian economy.
The former finance minister said that the ministers of the now-ruling Bharatiya Janata Party (BJP) at the Centre would, in all probability, also attack the international organisation for criticising India’s growth rate.
IMF Chief Economist Gita Gopinath was one of the first to denounce demonetisation.
I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath.— P. Chidambaram (@PChidambaram_IN) January 21, 2020
The IMF predicted on January 20 that India’s growth rate this fiscal might further decline to 4.8 percent, going downward by 1.3 percent in less than a hundred days. The IMF blamed the crisis in the non-banking financial sector and diminished demand from rural India for the slashed growth rate. It also blamed the slowdown in Indian economy for slashing global growth rate.
The IMF chief also said: “Domestic demand has slowed more sharply than expected amid stress in the nonbank financial sector and a decline in credit growth.”
She added that her organisation was also monitoring the protests against the Citizenship Amendment Act and National Register of Citizens that had been rocking the country. These factors will be taken into consideration while making their next assessment in April, she said.Commenting on the IMF predictions, Chidambaram said the growth rate of 4.8 percent might go further down.
Even the 4.8 per cent is after some window dressing. I will not be surprised if it goes even lower.
— P. Chidambaram (@PChidambaram_IN) January 21, 2020
Reality check from IMF. Growth in 2019-20 will be BELOW 5 per cent at 4.8 per cent.— P. Chidambaram (@PChidambaram_IN) January 21, 2020
The former finance minister, who is being probed in a graft case, has been a thorough critic of the present government’s economic and policy decisions.
Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.