Sluggish pace of GDP growth suggests shortage of investment: Congress

The Congress party today said that the sluggish pace of the GDP growth is an indication of shortage of investment which is resulting in less disposable income for people and unemployment. The statement came soon after data showed that the GDP growth has slowed down in the December quarter to 4.4 per cent.

"India's GDP grows at 4.4% in the 3rd quarter. The sluggish pace of the GDP growth suggests that there is a shortage of investment, resulting in less disposable income for people & unemployment," Congress party said in a tweet.

"Survival is a real challenge for a common man in Modi's "Amrit Kaal"," it further added.


In another tweet, the party said," The GDP growth was not even half as compared to the first quarter. This is a big blow on the economic front. Slow pace of GDP means- less investment in the country, less money in pocket, employment crisis."



Earlier today, the National Statistical Office (NSO) released data for third quarter of 2022-23 financial year along with estimate for FY23 and revised GDP data for FY22.

The NSO in its second advance estimate of national accounts pegged the country's growth at 7 per cent for 2022-23.

Besides, the NSO revised the GDP growth for 2021-22 to 9.1 per cent against the earlier estimate of 8.7 per cent.

As per NSO, India's economic growth slowed down to 4.4 per cent in the third quarter of 2022-23 mainly due to poor performance of the manufacturing sector.

In October-December 2021, the economy grew by 11.2 per cent and by 6.3 per cent in the July-September 2022 quarter, according to data released by the National Statistical Office (NSO) on Tuesday.