Former Prime Minister Manmohan Singh on Sunday said the state of the economy was “deeply worrying” and that “all-round mismanagement” by the Modi government has resulted in this slowdown.

In a statement, he said the last quarter GDP growth rate of 5 per cent signals that “we are in midst of a prolonged slowdown”.

The Congress leader said India has the potential to grow at a much faster rate.

“India cannot afford to continue down this path. Therefore, I urge the government to put aside vendetta politics, and reach out to all sane voices and thinking minds, to steer our economy out of this man-made crisis,” he said.

Singh said it is particularly distressing that the manufacturing sector’s growth is tottering at 0.6 per cent.

“This makes it very clear that our economy has not yet recovered from the man-made blunders of demonetisation and a hastily implemented GST,” he said.

“Investor sentiments are in doldrums. These are not the foundations for economic recovery,” he added.

Leave a Reply

Sign Up for Our Newsletters

Get notified of the best deals on our WordPress themes.

You May Also Like

क्या मोदी सरकार का ​कैशलेस इंडिया अभियान विफल हो गया है?

रिजर्व बैंक के हालिया आंकड़ों के मुताबिक, 23 फरवरी 2018 को भारतीय अर्थव्यवस्था में करेंसी का कुल सर्कुलेशन 17.82 लाख करोड़ है. नवंबर 2016 में ये 17.97 लाख करोड़ था. यानी अभी हम कैश के मामले में 99.17 फीसदी पर पहुंच चुके थे. ये हाल तब है जब नोटबंदी के बाद कैश सर्कुलेशन आधा कर दिया गया था.

The demonetisation disaster

Modi said on November 14, 2016 that if His demonetisation decision turned…

The Rafale mystery

Modi announced the purchase of 36 Rafale aircraft during his visit to…

The Modi government suspects the Rs 2,000 note is being used for hoarding, tax evasion and money laundering.

New Delhi: India has stopped printing Rs 2,000 notes in a bid…