After former prime minister Dr. Manmohan Singh questioned the NDA Government’s economic policies and said that ‘India is not in good shape’, CPI leader D. Raja on Tuesday said India is facing only either ‘jobless growth’ or ‘job-loss growth’. Backing Dr. Singh, Raja told ANI that many former prime ministers have also pointed out that the Indian economy is in bad shape.
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“The promises made by Mr. Modi before coming to power have not been fulfilled. He talked about creating jobs. Where is the job creation? Whatever is happening in India is jobless growth or job loss growth. Even I question the very concept of growth and all economists have pointed out that there will be an economic slowdown,” he said.
Unveiling a research document on the state of Indian economy, Dr. Singh said: “The Indian economy is not in good shape even the international bodies and rating agencies have projected a lower economic growth.”
Presenting the assessment document — The Real State of Economy – Dr. Manmohan Singh said the document is an assessment document of the real state of the economy.
Former finance minister P. Chidambaram, who was the finance minister in Manmohan Singh’s cabinet, also attacked the government for not creating enough jobs.
“There are no jobs, capital formation is declining, and credit growth is the lowest in several decades. Yet if the government presents tomorrow a rosy picture of the economy, people of India are entitled to question that,” said Chidambaram.
However, hitting back at Dr. Manmohan Singh and former Chidambaram who criticised the government of ‘painting a rosy picture of Indian economy’ and not paying attention to key metrics like jobs creation, Union Information and Broadcasting Minister M. Venkaiah Naidu said the government is not interested in the remarks who “ruined the nation” with their “bad economic policies.”