Kolkata, Jan 17 (UNI) "Not only are things pretty grim, it’s a situation where we see a growth recession," according to West Bengal Finance Minister Dr Amit Mitra.
In an interview to a national english channel, Dr Mitra said, "I think not only are things pretty grim, I think it’s a situation where we see a growth recession. We also are beginning to see, knocking at the door, stagflation, which I’ll explain later. Just take a look at the GDP growth. You will find consistent decline after the hara-kiri committed in the demonetisation."
"They’ve been called surgical strikes – they are not surgical strikes, they are hara-kiri. What happened is you had a nice economy with 8% growth, 8.2% growth, suddenly come demonetisation, thoughtless bravado, and growth falls to 7.2%, to 6.8%, and this year, to 5%," he added.