No sign of promised recovery: Chidambaram

Senior Congress leader P Chidambaram on Wednesday said the country's growth rate is weakening and there is no sign of the promised "recovery".

He said this after the country reported an overall GDP growth of 8.7 percent for the year 2021-22, with the last quarter showing a growth rate of 4.1 per cent.

"The NSO figures are out: the most striking graph is the quarterly growth rates in 2021-22 of 20.1, 8.4, 5.4 and 4.1 per cent.

"That graph tells all. The growth rate is weakening with every quarter and there is no sign of the promised 'recovery'," Chidambaram said on Twitter.

The former finance minister said the GDP in 2021-22 is barely above the level achieved in 2019-20.

"That means that after you two years, India's economy is at about the same level as it was on 31-3-2020," he added.