Chicago [US], September 1 (ANI): Indian Overseas Congress Chairman Sam Pitroda questioned whether India's 7.8 per cent GDP growth in the first quarter of FY27 had benefited a large section of the population, stressing that economic growth should focus on people and equitable development.
His remarks came after data released by the Ministry of Statistics and Programme Implementation (MoSPI) showed that India's real GDP grew 7.8 per cent in the April-June quarter of FY27.
Speaking with ANI on India's GDP growth, Pitroda said, "The rupee today is almost close to 100, and that is one indicator to me. Secondly, what kind of growth is that? Is that growth for very few or growth for people of India? Is it equitable? Does it percolate down, or have we created a few more billionaires? To me, this is very fundamental."
"If the wealth of the few has gone up substantially because of an increase in GDP, let's go ask the average person. What has happened to your life? He would say, look, petrol is expensive, gas is expensive, food is expensive, rent is expensive, and I can't live. Is that the kind of growth we want?" he said.
Pitroda said the government should acknowledge that while the economy had grown, the benefits of the growth may not have reached a large number of people.
"You can make anything look like good. It depends on what you are talking about. It is all about decoration. It's all about fake ideas. You've got to face the reality, saying fine, we have 7.8 per cent growth, but that growth has not benefited a large number of people. Accept it, work on it," he said.
"I am happy that we have 7.8 per cent growth. It is better than 5.2 per cent. But who benefited from it? It is very important to really keep the people of India as the focus," Pitroda added.
He also raised concerns over environmental protection and said that governments should give greater priority to people and the planet while pursuing economic development.
"My concern world over today is twofold... Today the world only pays attention to power and profit, when we should pay attention to planet and people," he said.
Pitroda also spoke about the flash floods in Nepal, linking them to global warming and environmental damage in the Himalayas.
"Look at what happened in Nepal, is, to some extent, a cause of global warming. Because of all the stuff we have done in the Himalayas. You know, do we really need to build a road, four-lane highway, all the way to, you know, wherever we are doing in North? Why do we have to destroy all these mountains at this point in time? Okay. As an example. Or do we need to build all these dams all over? Okay. Has anyone really done the real environmental studies?" he said.
Meanwhile, Real GDP was estimated at Rs 81.36 lakh crore in Q1 FY27, compared with Rs 75.46 lakh crore in the same quarter of FY26. The latest growth figure was also higher than the Reserve Bank of India's earlier estimate of 7 per cent for the quarter.
Real gross value added (GVA) grew 8.2 per cent during the quarter, while nominal GDP, measured at current prices, stood at Rs 88.27 lakh crore, registering a growth of 10.3 per cent.
The Q1 GDP estimates are subject to revisions, MoSPI said, adding that improved data coverage and revisions in input data by source agencies would have a bearing on subsequent revisions.
The next release of quarterly GDP estimates, covering the July-September quarter of FY27, is scheduled for November 30, 2026. (ANI)
"Have we created few more billionaires?": Sam Pitroda questions equity of India's 7.8% GDP growth, asks if benefits reached common people
