Chidambaram terms sub-6 % GDP growth 'catastrophe'

Former finance minister and senior Congress leader P Chidambaram today termed sub-6 per cent GDP growth as a "catastrophe" and said slow growth, low investment and no jobs were markers of the slide in economy.
He said the GDP and GVA figures were more evidence of former prime minister Manmohan Singh's indictment of "monumental mismanagement".
"Our worst fears have come true. Sub-6 percent growth is a catastrophe," the Congress leader tweeted.
"1 pc decline in GDP is a loss of Rs 1.5 lakh crore. 2% decline is a loss of Rs 3 lakh crore (sic)," he posted on Twitter.