The Congress on Saturday sought to puncture Modi government's euphoria over rise in GDP growth rate, saying people of the country equate it with "spiralling prices of gas, diesel and petrol".
The Q1 growth rate in 2017-18 is based on the lowest base 5.6 per cent in the last eight quarters, he said.
"The real GDP which is increasing is GDP- Gas Diesel and Petrol. From today onwards, prices of non subsidised LPG cylinder in Delhi have been increased by Rs 30.50, hitting the household budget of middle class people. For a non subsidised LPG Cylinder, one has to now pay a whopping Rs 1401.5," Vallabh said.
According to government data released Friday, India's economy grew at 8.2 per cent in the April-June quarter of 2018-19 on strong performance of manufacturing and agriculture sectors, increasing its lead over China to remain the world's fastest growing major economy.
Mocking Union Finance Minister Arun Jaitley over his social media posts, Vallabh said Modi Government has created a new portfolio known as 'Chief of Blog Writing', and the senior BJP leader has "quickly pounced" on this responsibility.
"Instead of looking after the workings of the Finance Ministry, he is busy writing lengthy, meaningless blogs. As the chief media manager of the Modi government, Jaitley is an expert in putting a blanket of fog to blur the vision of the people. But facts always cut through the fog," he said.
Vallabh was referring to the comments made by Jaitely on Friday on demonetisation and rise in the indirect tax. A day before, Jaitely had also written a post defending the government over the Rafale fighter jet deal.
"No matter how many goalposts Modi government changes, that reality shall not change. Finance Minister Arun Jaitley has now invented a unique argument of demonetisation increasing the direct tax base. However, that argument also falls flat on its knees.
"Even demonetisation has not had any effect on the black money, corruption, terrorism and naxalism," he said.
Vallabh said the finance minister claimed the last two years has seen the growth of around 16-17 per cent in direct tax collected in 2016-17 and 2017-18 and reached net value of around Rs 9 lakh crore.
However, during Congress UPA II tenure, growth rates of direct taxes collected for FY 2010-11, 2011-12, 2012-13, 2013-14 were 17.97 per cent, 10.76 per cent, 13.16 per cent, and 14.24 per cent respectively, he claimed.
In 2006-07, during UPA-I tenure, the highest growth rate in the last two decades of 39.92 per cent in collection of direct taxes was recorded, Vallabh claimed.