4.5 per cent GDP growth rate unacceptable, worrisome Manmohan Singh
NEW DELHI: Former prime minister Manmohan Singh said on Friday the GDP growth rate of 4.5 per cent was unacceptable and worrisome, and urged his successor Narendra Modi to set aside "deep-rooted suspicion" of society and nurse India back to harmonious, mutually trustworthy society that can help the economy soar.
Delivering his valedictory address at a national conclave on economy, Singh said mutual trust is the bedrock of societal transactions fostering economic growth, but "our social fabric of trust, confidence is now torn and ruptured".
He said the "toxic combination of deep distrust, pervasive fear and a sense of hopelessness in our society" is stifling economic activity and growth.
译文来源：三泰虎 http://www.santaihu.com/48879.html 译者：Joyceliu
For the last seventy years India walked on fifty% black money and IMF loans. MMS knows well that when world experience a slowdown India has to move along. No body wants his ''acceptance'' as he is a stooge of Italian Mafia. Has MMS ever said a good word about the present govt?
Sir, you liberalized Indian economy for betterment and development people but current go nment, RBI Governor, administration, bureaucracy has ruined and robbed people of India.
just look your tenure.
MMS was sleeping as PM. What was the amount of Corruption/ Inflation during his time. How many bad loans was given during his 1-0 Yrs Rule. Today this Govt is Clean. Outside world is under severe recession. Countries are not able to show positive growth for past 5 Yrs. Germany is in Recession .The only country which had growth . We are not happy with 4.5 but it is far better than Corruption / Bad Loans , Swindling of Indians assets. Today we can proudly say INDIANS re not corrupt . This is quarter result.Things can improve next quarter . We have given 5 Yrs for this Govt .Let us see what is happening in the next quarter
Growth is slow not because the economy is mismanaged although I disagree with disruptive events like demonetization and big bang implementation of GST. Growth has been impacted by a prolonged slowdown in global economy itself and more importantly the hole in the books of the banks that Manmohan and his jihadi congress party created to fill up their pockets. At this age they still want to fill up their pockets and I wonder how people cannot see through the incompetence of this idiot who has the dubious record of bringing the economy to the brink of bankruptcy twice (1990 and 2013).
Plz have a Look at your living room. There is an elephant in the living room.
He remembers only 2 words Sonia and Raul Vinci,he forgot economics long back.
He never knew economics. He knew boot licking which gave him an economist tag
I wish to say this to Manmohan Singh. I think what is not acceptable is crony capitalism, money laundering, bribery and co ption. That is what is not acceptable. I know that 4.5% GDP growth per quarter is low but I would prefer "clean" growth, rather than economic growth founded on money laundering, co ption , bribery and crony capitalism.
Absolutely. The same is applicable to non Congress parties as well.
Krishna Kumar Mishra
sir we have enough of your expertise during UPA era listening you is disgusting
nirmala sithraman is definitely doing a lot compared to jaitley but seems she needs to do it better.
the real prblm is these dimwits dont know what to do
as per the new formula inventrd by modi govt mms era. gdp wud be 6.5 two pts above....so modi has put india down by two more pts i.e 2.5 by eaier calculation...down in the dumps
was it acceptable when GDP growth rate went down to 4.3 during you term?
Hindi New Songs Matkar
No structural reforms were done when MMS was PM. So no need to ridicule Modi.
Ex Scam PM - Economy is a cycle and some times it happens. Still it is growth. Just shut up and get back all your scam money for a decade.
Shaleen Nath Tripathi
8% nominal growth means 4% real growth if the deflator is 4% which depends upon inflation... Inflation has increased in the recent months which has increased the value of deflator... GDP growth rate has not gone down but inflation has increased... If inflation was 2 percent real GDP would be 6%... 0% inflation means 8% real growth rate...
Shaleen Nath Tripathi
Stock market and financial of companies show that there is no broader slowdown... except few infra, banks, NBFCs and autos... Good companies with sound financials could easily be spotted... Please check companies financial before forming impression and expectations about the economy...
blaming others wont help
Congress is scam party. All data were manipulated.
There is a surprise elements in news of last few weeks / months. When GDP was going up, unemployment was going up, as stated in media. Now when growth of GDP is lower, unemployment rate is also lowered. The contrast is not understandable. When I feel, parallel economy which was hit during demonetisation has again grown, hence official numbers have fallen, unofficial numbers have grown.
Learned Mr Singh doesn''t understand simple thing. Its a global phenomenon. The slew of measures namely the Insolvency bankrupcy code, Reduction on corporate tax, Disinvestments, NPA write-off, infrastructure development, ... all measures are at all time high...if still the economy is not growing then he should understand, its not India specific issue... Even at the rate we are growing, no other country is able to do... Expect that the economist understand this
excellent reply to MMS
I am not a Congress fan but honestly i have started to feel that MMS is a genius when u put Modi in comparison
It is time to look for structural reforms and focus on govt. expenditure then private expenditure will follow automatically. Now the time has come to look beyond blame game.
@ prasad Krishna, economy is in worst condition and u ediot blaming mr Manmohan sing who has record of highest number of GDP in his tenure...Shame on people like you...
@ prasad Krishna，经济处于最糟糕的状态，你责怪辛格，可他在任期内创造了最高的GDP记录。像你这样的人真可耻……
Supreme Court , foreign origin NGOs, congress , DMK, NCP, SHIVSENA , CPI,CPM ETC ARE RESPONSIBLE FR THIS HUGE ECONOMIC LOSS..VEDANTA SMELTER IN TUTICORIN WAS SHUT OFF BY THES ANTI NATIONALS LISED ABOVE FOR CHEAP STUNTS,..LEADING TO LOSS F 5000plus families. BULLET TRAIN WILL ALSO BE SHUT. PEOPLE WILL LOSE JOBS. METRO IN MUMBAU WILL SUFFER LOSSES. INDIA WILL BE BROUGHT TO PAKISTAN LEVEL OF BANKRUPTCY BY MANMOHAN SINGH SONIA SENA.ERRATIC MONSOON NO DONPBUT CREATED PROBLENS BUT IT GAVE BLESSINGS TO NCP CONGI SENA..THIS IS HUG3 LOSS TO INDIAN ECONMY.MANMOHAN SINGH IS A STUPID FOOL.
UPA-2 was the epitome on co ption. you seem to have forgotten. The mess created by you and your cronies needs a serious clean-up, which is being done now, thus having an impact on growth. The damage done by the congress is irreparable. Pl don''t preach.
Corruption and kickbacks are directly proportional to gdp growth.with higher gdp growth common people don’t get benefit but foreign assets of political Indians and Ambani grows higher than gdp growth.When NGO GREEN BODIES AND ILLITERATE SUPREME COURT ACITVE LEADS TO CRUSHING GDP.
Looking into the mess and scams of Manmohan Singh and world economy''s status it is acfeptable. Economy is fundamentally very steong. According cording to Manmohan Singh scams after scams are acceptable