After the GDP growth rate plunged to 5.3% in the January-March quarter and the Opposition crying foul over alleged policy paralysis of the UPA, the Congress Working Committee (CWC) is set to devote a considerable time to discuss the future economic roadmap for the country, when it meets on Monday.
The CWC — the party's highest executive body for decision-making — will meet after a gap of more than a year. The extended body of the CWC is also slated to discuss the current political situation and the performance of the party in the last round of assembly elections.
As the meeting comes in the backdrop of the sharp drop in the GDP growth rate and the petrol price hike, the party brass will be appraised of the measures taken by the government to tackle the economic slowdown and ensure revival of high growth rates. The oil marketing companies, however, have announced a cut of R1.68 on petrol on Saturday.
Top sources in the Congress told HT that both Prime Minister Manmohan Singh and finance minister Pranab Mukherjee is likely to brief their party colleagues on the economic scenario.
The two are also likely to talk about how the government is taking care of the investor’s concerns and point out the measures announced in the general budget to tackle slowdown.
The two leaders may also highlight how, despite the slowdown, India has been able to attract high FDI and FII inflows in the last few months.
Chances of discussion on specific presidential candidates are almost nil but the party is likely to authorize president Sonia Gandhi to select the candidate and hold formal discussions with allies and other parties.