Need an FM with basic understanding of economics: Cong slams Sitharaman’s announcementhttps://indianexpress.com/article/india/nirmala-sitharaman-finance-minister-press-conference-congress-automobile-housing-indian-economy-5931747/

Need an FM with basic understanding of economics: Cong slams Sitharaman’s announcement

Congress spokesperson Manish Tewari took a jibe at Sitharaman and the government for "unleashing terror on honest businesspersons" and "lacking to understand the economic issues" in the country.

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Finance Minister Sitharaman announced a slew of measures in an attempt to give a boost to the economy. (PTI)

Hours after Finance Minister Nirmala Sitharaman held a press conference Friday to allay apprehensions about a slowdown in the economy, Congress took a jibe at the Centre for “unleashing terror on honest businesspersons” with “lack of understanding the economic issues” in the country.

“A structural problem bedevils the fundamentals of Indian economy because of lag effect of Demonetisation/GST coupled with spectre of terror unleashed on even honest businesspersons juxtaposed with lack of understanding of economic issues by successive Finance Ministers of NDA/BJP,” Congress spokesperson Manish Tewari tweeted.

Congress’ official Twitter handle too criticised the finance minister’s press conference, saying that the country is “in dire need of an FM with basic understanding of economics.”

In a series of tweets, the party claimed that during the 2008 global recession, the Indian economy remained stable because of former prime minister Manmohan Singh’s policies.

“FM says India’s economy is down because of global situation – conveniently ignoring the simultaneous destruction by Demonetisation & GST. She may have also forgotten that in 2008 during the global recession, our economy remained stable because of Dr. Manmohan Singh’s policies,” the party’s tweet thread read.

Asserting that reforms are the top priority of the Modi government, Finance Minister Sitharaman announced a slew of measures in an attempt to give a boost to the economy.

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Among the key measures that were announced include relief from the enhanced surcharge on Long term/Short term Capital Gains, CSR violations not to be treated as a criminal offence, and the withdrawal of Angel tax provisions for startups and their investors.

The announcements by the finance minister come at a time when the perception about a slowdown in the economy has been growing.