The Congress on Friday hit out at the Union government, saying India’s growth story is being pushed back due to the inept handling of the economy and cluelessness on the part of the Modi government.
It also asked the government whether it will now go back on its promises of making the country a USD 5 trillion economy, doubling farmers’ income, and providing pucca houses to all by 2022.
“It is evident now that the BJP government, due to its inept handling of the economy, no focus, and cluelessness, is pushing the Indian growth story back,” Congress spokesperson Gourav Vallabh said at a press conference.
Citing the GDP growth numbers, he said India has seen a growth of only 3 per cent in the last three years and accused the government of “destroying” the Indian economy. “These are highly worrying numbers, with prospects not looking very bright due to inaction by the Modi government. Even SBI had a downward growth forecast for FY23 from 7.5 percent to 6.8 percent,” he said, noting that other global banks and rating agencies have followed the same trend.
“When does the government now expect India to become a USD 5 trillion economy? Does it intend to go back on its promise like doubling farmers’ income by 2022, pucca houses to all eligible urban households by the year 2022?” he asked.
“The Indian economy needs a reset as soon as possible due to changing global dynamics and India’s sluggish growth, but the finance minister didn’t blink an eye on these worrying data points. The government’s efforts are only directed towards the reset of opposition governments instead of chalking out a roadmap for the reset of the economy,” Vallabh said.
He said one does not need ‘Mann ki Baat’ to know what the state of the Indian economy is, as the Indian rupee has fallen to Rs 79.70 against a US dollar and the unemployment rate in August 2022, as per CMIE, has risen to 8.28 per cent, the highest in last one year.
He said retail inflation continues to be above RBI’s tolerance band of 6 per cent, sitting at 6.71 percent in July 2022.
“What is the reason for the leisurely approach by the Modi government as far as the economy is concerned? Cluelessness or doesn’t fit in their priority? What concrete measures is the government undertaking to generate employment opportunities for our youth when the urban unemployment rate rises to 9.6 per cent,” Vallabh asked the Union Finance Minister. (PTI)