New Delhi, Feb. 9 -- Senior Congress leader and former finance minister P Chidambaram on Monday flagged key challenges such as declining nominal GDP, unemployment, slow fiscal consolidation and more. Participating in the Budget discussion in Rajya Sabha here, Chidambaram said the "reform express is stuck, not derailed yet," pointing to a sustained deceleration in nominal growth.
"In 2023-24 nominal GDP growth was 12 per cent, in 2024-25 it declined to 9.8 per cent and in 2025-26 it has come down to 8 per cent. Where is the reform express?" he asked.
'Nominal GDP' refers to everything that a country produces during a certain period at current prices.
He said the Economic Survey itself had listed several challenges confronting the economy ...