New Delhi - Senior Congress leader P. Chidambaram slammed the Modi government as India's GDP growth for the first quarter of the current fiscal ended June slowed down to 5.7%, calling it a "catastrophe".
"Our worst fears have come true. Sub-6% growth is a catastrophe," Chidambaram said on Twitter.
"The slide in economy continues. Slow growth, low investment and no jobs. An explosive cocktail," he added.
Chidambaram said: “GDP (Gross Domestic Product) and GVA (Gross Value Added) figures are more evidence of Dr Manmohan Singh's indictment of 'monumental mismanagement'.
"1% decline in GDP is a loss of Rs 1.5 lakh crore. 2% decline is a loss of Rs 3 lakh crore," the former finance minister further added.
India's GDP growth for the first quarter of the current fiscal ended June slowed down to 5.7% from 6.1% reported for the fourth quarter of 2016-17, official data showed.