Congress leader P Chidambaram speaking at the Congress headquarters in 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.