After Strong GDP Numbers, Politics And A Twin Puzzle | Read
Prime Minister Modi has silenced critics of his notes ban with a 7 per cent GDP or Gross Domestic Product growth in the 3rd quarter, but experts and political rivals are asking two key questions. First, how did consumption go up when there was hardly any cash with people to buy anything? And second, why was there a steep downward revision of Q3 figures for the previous year? Union Finance Minister Arun Jaitley told NDTV that the higher consumption simply revealed that people moved from the informal to the formal sector. "The GDP data shows that there is growth in formal economy," said Mr Jaitley.
