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Budget 2019: Ahead of big budget day, BJP government revises GDP growth at 7.2% in 2017-18 from 6.7%

Speed News Desk | Updated on: 1 February 2019, 10:13 IST
GDP growth rate revised

Ahead of the 2019 Lok Sabha elections, the big move of the BJP government is being seen as the GDP growth rate has been again revised by the current dispensation from 6.7% to 7.2% for 2017-18.

The Ministry of Statistics has said that the GDP growth rate has seen an upward rise of 7.2% from the provisional estimate of 6.7% in May 2018. Adding on to revising the data, the government also reversed the 2016-17 growth rate to 8.2%

Although, the government seems to have withholding a data about the job and unemployment but as per a report published in the Business Standard, the government is hiding the NSSO report on jobs which was set to be announced until December 2018 and the data included the post demonetization effect. The report analyzed that the unemployment rate in India has crossed 6.1% which is highest in last 45 years.

The Minister of State for Finance Shiv Pratap Shukla has said that “It is a popular government. It has kept everyone in mind whole making the budget. Being an interim budget, the government will do whatever is possible.”

News agency ANI tweeted saying, “Finance Minister Piyush Goyal arrives at the Parliament with the Budget briefcase. Following the Cabinet meeting, he will present the interim Budget 2019-20 at 11 am.”

The government is expected to announce a waiver of loans, tax exemptions for farmers and salaried class, and a Universal Basic Income might be in the offing. The Modi government is planning to give Rs 12,000 annually to the farmers who are totaled around 12 crore as a sop to the agricultural household.

Also read: Budget 2019: BJP govt's last chance to make a goal as it announces 'full budget' today, farm loan waiver in 

First published: 1 February 2019, 10:13 IST