Congress Attacks Government On State Of Economy: Highlights

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Congress Attacks Government On State Of Economy: Highlights

Congress leader P Chidambaram speaking at the Congress headquarters in Delhi.

New Delhi:  Congress leader and Former Finance Minister P Chidambaram targeted the government over the country's economy. Here are the highlights from his address:
  • At beginning of 2015, the government confidently predicted 8.1 to 8.5 per cent growth of the economy in 2015.
  • Promises of government jobs, infrastructure were premised on high growth of GDP.
  • None of the promises have materialized. On the contrary 2015 has ended in a subdued note.
  • GDP is not likely to be higher than 7-7.5 per cent.
  • Which means it will be the same as or less than 2014-15
  • It is stuck in a groove. Economy is a car running on two wheels.
  • Exports are in 12 successive months of decline compared to the previous year. This is unprecedented. Acute distress in rural India especially in farm sector. Rural wage growth neutral.
  • MSP deliberately kept low. Net sown area Rabi is lower than last year
  • Downside risks to agricultural production this year.
  • Just travel to rural India and talk to farmers. Deep resentment of tardy implementation on MGNREGA.
  • Crop insurance unavailable.
  • Old age pension scheme severely pruned
  • Education loans practically stopped.
  • Demand for security.
  • People are unable to point to any scheme.
  • Anger and angst of rural India is reflected in recent elections in GJ, CG and MP
  • Urban India is not much better. Food transport electricity and water.
  • Increase in crime, lack of jobs and growing intolerance has caused much grief.
  • No evidence that promised jobs are being created.


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