Manmohan Blames Modi for Economic Crisis
Former Prime Minister Manmohan Singh has clearly voiced his displeasure at the current state of the economy, He has pointed a finger at the mismanagement of PM Modi’s government.
Former Prime Minister Manmohan Singh on Sunday said that the economy is in big danger. He said that India’s growth in the June quarter is the worst in more than six years. This shows that India’s economic growth has slowed down a lot. He said that India has the potential to grow at a much faster rate, but mismanagement by the Modi government has resulted in this slowdown. Growth in the manufacturing sector has reduced as well. Manmohan said that this is a man made mistake. It was because of decisions such as demonetization and the hastily implemented GST.
Manmohan urged the government to put aside revenge politics. He said they must take help from experts to help improve the economy. He said because of the Modi government’s policies, many people are not able to find jobs.“More than 3.5 lakh jobs have been lost in the automobile sector alone. There will similarly be large scale job losses in different areas. Because of the government’s policies foreign investors have lost confidence in India and stopped investing their money. Farmers are not receiving adequate prices for their produce and rural incomes have declined. He even said that the Reserve Bank of India transferred ?1.76 trillion funds to the government. This is the current state of the economy in India. The future will future will show how these funds are used and if the RBI can stay independent or not.
