Former finance minister P Chidambaram Tuesday mocked the Modi government over economic slowdown. The former finance minister made a jibe at the Centre over the recent Gross Domestic Product (GDP) rate slipping to a 6-year low of 5 per cent in the April-June quarter.
As he stepped out of a special CBI courthouse, a reporter asked him to say something about his custody to which Chidamabaram replied while raising his hands to show his five fingers, "Five per cent. Do you know what is five per cent?"
The former finance minister's CBI custody was extended by two more days in the INX Media case. Chidambaram's five per cent jeer was targeted at the recent abysmal GDP numbers as Indian economic growth slumped for the fifth straight quarter amid muted consumer demand and private investment.
The less-than-anticipated GDP growth rate puts further pressure on the Modi government to announce meaningful reforms that can bring back the economy on the growth trajectory. Finance Minister Nirmala Sitharaman held a press conference on Friday, to address the economic slowdown in which she announced multiple mergers of public sector banks.