The Opposition Congress on Wednesday launched a scathing attack on the government with pointed criticism of the status of economy and markets and the alleged misuse of the probe agencies ED and CBI in what it called ‘BJP’s New India’.
“Bloodbath in Economy! Bloodletting of Rs! Bloodshed of Stocks! Battering of the Constitution! Bulldozing of ED/CBI/Income Tax! BJP’s ‘New India’!!!,” party spokesperson Randeep Singh Surjewala tweeted.
The criticism came on the day BJP ally Shiv Sena, in a veiled attack, through an editorial in party mouthpiece Saamana, asked the government to pay heed to the former PM Manmohan Singh’s warning and not indulge in politics over the issue.
Last week, Manmohan Singh had termed as “deeply worrying” the state of economy and had said that the June quarter growth rate of 5% showed that India was in the midst of a prolonged economic slowdown. “India has the potential to grow at a much faster rate, but all-round mismanagement by the Modi government has resulted in this slowdown,” Singh said in a statement.
{{/usCountry}}Last week, Manmohan Singh had termed as “deeply worrying” the state of economy and had said that the June quarter growth rate of 5% showed that India was in the midst of a prolonged economic slowdown. “India has the potential to grow at a much faster rate, but all-round mismanagement by the Modi government has resulted in this slowdown,” Singh said in a statement.
{{/usCountry}}The senior Congress leader also an economist was reacting to the 5% Gross Domestic Product (GDP) growth in the April-June quarter, the slowest in more than six years. Manufacturing, particularly the automobile sector, has taken a hit, with passenger car sales in July falling 30% compared to a year ago.
However, the government played down Singh’s criticism, saying it does not subscribe to his analysis as India has now become the world’s fifth-largest economy from 11th during his time.
“The economy is in doldrums. Kashmir and economic slowdown are two different issues. A learned person like Manmohan Singh there should be no politics around the economic slowdown and experts should be roped in to repair the economy. National interest lies in listening to Manmohan Singh’s advice,” the editorial in Saamana said.
The Sena said that Singh has the “right” to speak about the economy as he has been associated with Indian finance and economy for over 35 years.