GDP has no relevance, MP BJP tells Lok Sabha

NEW DELHI: With the opposition trying to stop the government for a weakened economy and declining GDP numbers, MP BJP Nishikant Dubey He said in Lok Sabha on Monday that GDP had no relevance and should not be treated as a Bible, Ramayana or Mahabharata.

The GDP arrived in 1934. Before that, there was no GDP. Whereas the Bible, Ramayana or Mahabharata are not correct. In the future, GDP will not have much use. Who talks about GDP is wrong. The GDP has no relevance for this country, Dubey said to a bewildered opposition, and some also in the BJP banks, stating that sustainable economic development and the happiness coefficient, not GDP, were the real measures of a progressive country .

By participating in the discussion on the bill on the Tax Law (Amendment), where opposition parties tried to corner the government for not controlling the growing concerns about the state of the economy, Dubey tried to ignore the concerns of the opposition, perhaps taking the discussion in a different trajectory.

(Economist Simon) Kuznet said it is not the definitive truth to believe in GDP ... it will not be very useful in the future, Dubey said. He also referred to a speech by Robert Kennedy that had led the GDP commission in the United States in 1968 and also pointed out the limits of the economic measure. Before Dubey, Congressman Adhir Ranjan Chowdury referred to finance minister Nirmala Sitharaman as nirbala (helpless), and advised BJP to consult former Prime Minister Manmohan Singh.

A Raja of DMK responded to Dubey and said that no one had bought his explanation about the slowdown, and cited former RBI governors Raghuram Rajan and Urjit Patel, and Deputy Governor Viral Acharya, among others, who, according to him, had opposed to the government for its management of the economy. .

Mohua Moitra of the Trinamool Congress said the government's approach to the economy was casual and added that it should solve the problem holistically.

The NCP deputy, Supriya Sule, challenged Dubey in her claim that India is doing well in the happiness index, saying she was ranked 117th out of 140 countries. Referring to the government's response to the economic crisis as reactive rather than proactive, Sule also criticized the machinery of the BJP party for launching personal attacks against the industrialist Rahul Bajaj for his claims that an atmosphere of fear prevailed under the government of BJP .

In his response to opposition parliamentarians, Sitharaman said the government was open and receptive to criticism. The finance minister described her tweet on Sunday by referring to Bajaj, who spread her own impressions that, by gaining traction, can damage the national interest, was nuanced to mean that creating a false impression about the government was against the national interest. He also faced Chowdhury for his helpless comment and said that only under Prime Minister Narendra Modi, two women were part of the Cabinet Security Committee. Under Modiji, we also have power.