Congress Attacks Government On State Of Economy: Highlights

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.