Prepare for attack: Chidambaram warns IMF

TIL Desk/Business/New Delhi/ With the International Monetary Fund lowering India’s economic growth estimate for the current fiscal to 4.8 per cent, senior Congress leader P Chidambaram on Tuesday claimed an attack on the world body and its chief economist Gita Gopinath by government ministers was imminent. He also alleged that the growth figure of 4.8 per cent given by the IMF is after some “window dressing” and he won’t be surprised if it goes even lower.               

“Reality check from IMF. Growth in 2019-20 will be BELOW 5 per cent at 4.8 per cent,” Chidambaram said in a series of tweets. “Even the 4.8 per cent is after some window dressing. I will not be surprised if it goes even lower,” the former finance minister said. IMF Chief Economist Gopinath was one of the first to denounce demonetisation, he noted.          

“I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath,” Chidambaram said. The IMF lowered India’s economic growth estimate for the current fiscal to 4.8 per cent and listed the country’s much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.