World bodies’ revelations shatter Modi govt’s claims of strong economy
New Delhi: The international organizations have proven false the Modi government’s claims about the Indian strong economy.
According to the Kashmir Media Service, the IMF’s revelations have shattered the Modi government’s hollow claims of so-called economic growth.
The IMF has given India a C grade in its annual report, placing it at the second lowest level. The IMF has described India’s economic data for 2011-12 as extremely old and poor.
According to the IMF report, the C grade indicates that there are shortcomings in the data available to India. The IMF said data gaps in the Indian economy hinder the process of economic monitoring.
The report also called the lack of adjustments in Indian economic data on a quarterly basis a major technical flaw, while the experts have repeatedly criticized the Indian government’s income-based GDP methodology.
Due to persistent data weaknesses, India’s national accounts were given a C grade for the second consecutive year.
The IMF’s revelations have exposed the Indian economy based on artificial data.
