P Chidambaram Takes A Dig At Economic Slowdown
Chidambaram took a dig at the National Democratic Alliance government over the slump in gross domestic product.
Former finance minister P Chidambaram on Tuesday took a dig at the National Democratic Alliance government over the slump in gross domestic product, which has dropped to over six-year low of 5 percent in the April-June quarter.
Minutes after Chidambaram stepped out of the courtroom, when journalists asked what he had to say about his Central Bureau of Investigation custody, Chidambaram quipped, “Five percent. Do you know what is five percent?”
He also raised his hand to show five fingers as the CBI took him away in custody.
Chidambaram was remanded to two more days of CBI custody in the INX Media corruption case.
India’s economic growth has slumped for the fifth straight quarter to an over six-year low of 5 percent in the three months ended June as consumer demand and private investment slowed amid deteriorating global environment.
Having lost the tag of the world’s fastest-growing economy earlier this year, India’s GDP growth was behind China’s 6.2 percent in April-June, its weakest pace in at least 27 years.