6.3% growth in economy far below what Modi govt promised: Chidambaram

Former finance minister P Chidambaram further said Q2 economic growth is also far below the potential of a well-managed Indian economy.

New Delhi: Former finance minister P Chidambaram on Thursday said that 6.3% growth in Indian economy is far below the promise of the Modi government.

He further said Q2 economic growth is also far below the potential of a well-managed Indian economy.

"6.3% is far below the promise of the Modi government and far below the potential of a well-managed Indian economy," Chidambaram said in a series of tweets.

The senior Congress leader said, "We should wait for the growth rates over the next 3-4 quarters before we can reach a definite conclusion."

"Happy that the July-Sep quarter has registered a growth rate of 6.3%. This a PAUSE in the declining trend of the last five quarters. But we cannot say now whether this will mark an upward trend in the growth rate," Chidambaram added.

We should wait for the growth rates over the next 3-4 quarters before we can reach a definite conclusion.

— P. Chidambaram (@PChidambaram_IN) November 30, 2017

India's economic growth pace picked up to 6.3 percent in the three months ending in September, halting a five-quarter slide as businesses started to overcome teething troubles after the bumpy launch of a Goods and Services Tax (GST).

Gross domestic product grew 6.3 percent in July-September, its fastest pace in three quarters, the data showed.

Growth had slid to a three-year low of 5.7 percent for the three months to June on the spillover effects of the note ban and the GST implementation.