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| GDP REPORT RELEASED |
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GDP 2023 NEWS: The GDP figures for the financial year 2022-23 have been released on 31 May 2023. According to the report, the Indian economy is performing better than expected. In the year 2022-23, GDP has increased at the rate of 7.2 percent. According to the data given by the National Statistics Office (NSO), the pace of GDP in the fourth quarter has been faster than in the previous quarter. India’s GDP has been recorded at 6.1 percent in January-March 2023. Now, as soon as the GDP figures were made public by the government, people started trolling former RBI Governor Raghuram Rajan, memes against him started going viral on social media, some people even started criticizing him, not only this, “Raghuram Rajan” trended on Twitter. But do you know why this is happening? Let us tell.
“Raghuram Rajan” had predicted a low GDP-
In fact, last year, Raghuram Rajan had estimated that India’s growth rate would not even touch 5 percent in the year 2022-23 and this estimate was made by “Raghuram Rajan” in an interview given to Rahul Gandhi during the Bharat Jodo Yatra of Congress. said that
“The coming year is going to be challenging for India as well as the world due to the Russia-Ukraine war and other global circumstances. There will be further difficulties for the Indian economy.”
Rajan said that
“inflation is rising, bank interest rates have reached a high level, exports are continuously decreasing. All these are going to affect India. All this will work negative for development. We’ll be lucky even if it grows at 5 per cent next year.”
When the results came, people started trolling.
Where Raghuram Rajan had made a GDP estimate of 5 in the financial year 2022-23, this estimate has been proved wrong by the release of the same report. He had made this assumption by participating in the Bharat Jodo Yatra and after giving an interview to Rahul Gandhi and that is why BJP and some people did not like this thing. Many people said that Raghuram Rajan is speaking these estimated figures to please the Congress, although when Raghuram Rajan released these figures, he was not so criticized, but on 31 May 2023, the GDP of the financial year 2022-23 After the release of the figures, he is getting a lot of criticism and many people are making his interview given to Rahul Gandhi viral in the social media.
Watch video-
Raghuram Rajan in this dated conversation (2022) with Rahul Gandhi, sounded less like an economist, and more like Rajdeep Sardesai, when he said, ‘India would be lucky to do 5% GDP growth next year (FY2022-23)’.
Fact is India has registered 7.2% GDP growth in FY2022-23. 7.2%!… pic.twitter.com/8GNENPjYys
— Amit Malviya (@amitmalviya) June 1, 2023
What is GDP?
GDP stands for Gross Domestic Product. It is a measure used to gauge the economic performance of a country. GDP represents the total value of all goods and services produced within a country’s borders during a specific period, typically a year. It takes into account consumer spending, business investments, government expenditure, and net exports (exports minus imports). GDP serves as an indicator of a nation’s economic health and is often used to compare the economic performance of different countries. It is commonly expressed in monetary terms, such as dollars or euros, and provides a snapshot of the size and growth of an economy.