‘5 per cent’: Chidambaram reacts to the state of economy

New Delhi, September 3

Former finance minister P Chidambaram on Tuesday took a dig at the NDA government over the slump in GDP, which has dropped to over six-year low of 5 per cent in the April-June quarter.

Minutes after Chidambaram stepped out of the courtroom, when journalists asked what he had to say about his CBI custody, Chidambaram quipped, "Five per cent. Do you know what is five per cent." He also raised his hand to show five fingers as the CBI took him away in custody.

Read: PC's CBI custody in INX Media case to continue till Sept 5: Apex court

Chidambaram was remanded to two more days of CBI custody in the INX Media corruption case.

India's economic growth has slumped for the fifth straight quarter to an over six-year low of 5 per cent in the three months ended June as consumer demand and private investment slowed amid deteriorating global environment.

Having lost the tag of the world's fastest-growing economy earlier this year, India's GDP growth was behind China's 6.2 per cent in April-June, its weakest pace in at least 27 years. — PTI

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