Noteban has hurt large number of workers of small and medium enterprises

GDP growth rate comes down with demonetisation

The GDP Growth rate has fallen after demonetisation

Modi-led government has continued to justify demonetisation and refute even bourgeois economists’ assertion that it has hurt the economic growth. It has refused to accept that crores of workers lost their livelihood for months and lakhs of small and medium sized enterprises were forced to shut-down in the absence of cash post-demonetisation.

GDP growth data released by the CSO recently confirms that there has been significant drop in the growth rate during the fourth quarter of Jan-Mar 2017 when the full impact of the cash shortage caused by demonetisation was felt. Quarterwise GDP data also shows that GDP growth rate has been steadily falling from quarter to quarter during the year. While the Modi government is celebrating its three years of success, the data shows that even by its own data and measure of the GDP, the growth rate has been the lowest during 2016-17 during its three years of rule.

People anyway never believed the lofty claims of growth rate as they saw no growth in jobs nor any improvement in their life. Many bourgeois economists too have been expressing doubt about the correctness of GDP numbers after the method of calculation was changed. GDP growth, however high, does not mean anything for people unless they see better opportunities of livelihood, improvement in wages and fall in prices of essential commodities.


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noteban    GDP    Jun 16-30 2017    Struggle for Rights    Economy     Rights     2017   


Click to Download PDFInterview with Comrade Lal Singh, General Secretary of Communist Ghadar Party of India

by Comrade Chandra Bhan, Editor of Mazdoor Ekta Lehar

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100 years ago Ghadar Party was formed by Indians in the US.It was historic milestone in our anti-colonial struggle.

The goal of this party was to organise a revolution to liberate our motherland from British servitude and establish a free and independent India with equal rights for all. It believed this to be the necessary condition for our people to hold their heads high anywhere in the world.

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Working class representatives from all over the country are gathering on 4th September, at a time when a titanic struggle is going on in our country. The struggle is between the majority of toiling and exploited people and a minority of exploiters. It is between the majority whose labour expands wealth and the minority who enjoy the fruits of wealth creation on the basis of their private property and positions of power.

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Call to the Working ClassDefeat the program of privatisation and liberalisation!

Fight with the aim of establishing workers’ and peasants’ rule!

Call of the Central Committee, Communist Ghadar Party, 23 February, 2012

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Power to DecideVoice of the Communist Ghadar Party of India on the Power to Decide

This publication contains three statements issued by the Central Committee of Communist Ghadar Party on 1st, 18th & 28th Aug, 2011.

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