Economic Slowdown: Former PM Manmohan Singh hits out at Government policies
Former Prime Minister and Congress leader Dr. Manmohan Singh, while holding the government responsible for the economic slowdown in the country, has said that “the Indian economy has the potential to grow rapidly but due to mismanagement of the Modi government, we are going through a phase of economic slowdown”. Manmohan Singh said, ‘I appeal to the government to abandon the politics of vengeance and listen to the voice of the reformed people to remove the economy from the man-made crisis’.
Dr. Singh said, ‘The policies of the Modi government have resulted in large scale jobless development. Economic conditions are gravely worrying. The GDP growth rate of 5 per cent in the last quarter shows that we are in a period of sustained economic slowdown.’
Expressing concern over the economic situation, Dr. Manmohan Singh said, ‘The condition of the economy is very worrying. The 5% growth in the previous quarter suggests that the economy is slowing down. We have not yet recovered from the damage done to our economy due to blunders like demonetisation and hastily implemented GST.’
Attacking the government fiercely, Manmohan Singh said, “The figures of GDP growth rate in the last quarter are worrying. This is all due to mismanagement of the government. Tax terrorism still continues. Because of the policies of Modi government, jobs are going instead of creating jobs. The auto sector has lost millions of jobs. The situation is worse in rural India. Our farmers are not getting the right prices. Rural income is also declining. Constitutional institutions are under attack and their autonomy is being eroded. Apart from this, the announcements of the government in the budget and then the withdrawal of steps have created distrust among international investors.”
No comments on former PM’s remark says Finance Minister
Finance Minister Nirmala Sitharaman refused to comment on former Prime Minister Manmohan Singh’s statement on the economy. She said, ‘I have no opinion on what former Prime Minister Manmohan Singh has said. He said it and I listened. ‘
When reporters questioned Finance Minister Nirmala Sitharaman’s statement on former Prime Minister Manmohan Singh, she said, “Is Dr. Manmohan Singh saying that instead of indulging in political vendetta, he should take the advice of the silent people?” Is that what they said? Okay thanks, I’ll listen to him on this. This is my answer.
