Real GDP numbers may be inflated, do not accurately reflect impact of inflation: Congress

The Congress on Friday alleged that the real GDP numbers may be inflated as they do not accurately reflect the impact of inflation on GDP growth.

Congress general secretary Jairam Ramesh said investment and exports have also slowed dramatically, which reinforces the lived reality of the vast majority of Indians - "that all is not well".

He shared an opinion piece by the Narendra Modi government's former chief economic advisor Arvind Subramanian on the current economic scenario.

In a post on X, Ramesh said, "When headline management takes precedence over serious policy making, the government starts to believe its own tall stories of exuberant growth." The reality is far more sobering as reasoned out clinically by the Modi government's former chief economic advisor, he said.

"The real GDP numbers may after all be inflated as it does not accurately reflect the impact of inflation on GDP growth," the Congress general secretary said.

"Not only that, investment and exports have slowed dramatically, which reinforces the lived reality of the vast majority of Indians - that all is not well,  and that the economic narrative the PM & his drumbeaters are tom-tomming is vastly exaggerated," he said.

The Congress has been attacking the government over its handling of the economy and raising concerns over "increasing unemployment and price rise".