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Tuesday
April 2019
7:29 AM IST
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Rahul liar of first order; should apologise to country: BJP on Cong chief''s affidavit in SC        Nation-wide emergency from midnight in Sri Lanka        Pant fires Delhi Capitals to six-wicket win over Rajasthan, go top of table        Shiv Sena asks govt to take over Jet Airways        Congress releases list of six candidates for Delhi Lok Sabha seats        SP-BSP-RLD, an alliance of hearts rather than parties: Akhilesh        CM Nath regime intimidating officials: Shivraj Singh Chouhan        Bairstow and Warner lead Sunrisers to 9-wicket victory        Dhoni''s 84* goes in vain as RCB win 1-run thriller against CSK        Sri Lanka serial blasts : Seven arrested over multiple blasts        Pak Prime Minister Imran Khan arrives in Iran        Serial blasts rip through Lanka on Easter Sunday: 228 dead, 450 injured        US confirms deaths of several Americans in Sri Lanka blasts        Pakistan deplores India''s decision to suspend cross-LoC trade        Multiple blasts likely to have "adverse impact" on Lankan tourism: tour operators        Kerala CM condemns terrorist attack in Sri Lanka        French Police detain over 120 people amid Yellow Vest rallies in Paris        Gunmen kill 2 in north Nigeria        Amit Shah: K Surendran represents believers all over world        Asking vote for those who insulted Ambedkar is stooping to new low: Yogi to Mayawati        
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Business News
Jaitley dubs '108 purported economists' as compulsive contrarians
 
New Delhi, Mar 19 (PTI) Finance Minister Arun Jaitley Tuesday dubbed the "108 purported economists" alleging government interference in statistical data as a "fake campaign", saying these compulsive contrarians have repeatedly signed memorandums of manufactured political issues against the present regime.

He was referring to a appeal made by 108 economists and social scientists including Jean Dreze (Allahabad University), Emily Breza (Harvard University), Satish Deshpande (Delhi University), Esther Duflo (MIT, US) and Jayati Ghosh (JNU) last week, expressing concerns over "political interference" in influencing statistical data in India.

They had called for restoration of "institutional independence" and integrity to the statistical organisations in the backdrop of controversy over revision of gross domestic product (GDP) numbers and withholding employment data by the NSSO.

Rejecting the contention of economists, as many as 131 chartered accountants had stressed that India is poised to move on a higher growth trajectory and countered the concerns expressed by some economists and social scientists that economic statistics in the country are in shambles.

Highlighting the economic achievements of the Modi government, Jaitley in his ninth part of 'Agenda 2019' series of blogs said the Central Statistical Organisation (CSO), which handles data management, always maintains an arm's length distance from the government and functions professionally and independently.

"Our data is maintained as per the best global practices," he said adding the irony of a large number of Opposition leaders is that they specialise only in politicking and sloganeering rather than understanding the world of development and economy.

One of the fake campaigns against the present government has been on the question of economic data, he added.

"The recent statement by the 108 purported economists needs to be analysed. Most of them have, over the last few years, repeatedly signed the memorandums of manufactured political issues against the present government. 'Compulsive contrarians' can hardly be objective," the minister said.

Jaitley said there is a need to analyse as to where the country stands in terms of the economy.

The period 2014-19 has witnessed the fastest ever growth of the GDP in India for a five-year term of any government and it has been a period of fiscal consolidation, he said while comparing the performance of current regime on the economic front with the previous governments.

He further claimed that the five-year GDP growth has been at an average 7.5 per cent, the fastest amongst the major economies of the world.

Inflation has been broadly under control and fiscal deficit has gradually slid down, he noted. The external debt as a percentage of the GDP is on the decline and there is a significant improvement in the current account balance of the government, the minister noted.

He also dismissed concerns over employment generation saying it would be "preposterous" to contend that the fastest growing economy in the world is actually losing jobs and that even the 17.1 crore Mudra loans created no jobs through self-employment.


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