P. Chidambaram slams the Modi Government calls Economic Survey report “Depressing”

Congress leader P. Chidambaram slammed the Modi government for poor economic performance. He said that the agriculture has been left in the lurch while the burden has been put on the private sector.


Congress leader and former Union Minister and MP from Rajya Sabha, P. Chidambaram today attacked the Modi government saying the NDA government has failed to address the challenges. P. Chidambaram issued a statement today in the wake of the release of Economic Survey by Ministry of Finance ahead of the budget presentation.

“Economic Survey 2018 has brought to the surface the internal contradiction within the government,” said Chidambaram. In a statement, he said that the NDA government has failed to address the challenges in the sector of Education, Employment and Agriculture as promised by the coalition during its 2014 election campaigning.

P. Chidambaram called the state of Agriculture in the country “very depressing”. Attacking the Modi government on its agricultural policies he said, ” In four years, the level of Real Agricultural Growth and real agricultural revenues has remained constant.” “It is clear that the Agriculture has been left in the lurch,” the Congress leader hit out at the government.

Rebutting the government’s claim of 7-7.5% GDP growth rate in the 2017-18, he said, ” there is little evidence to support this claim.” He observed that the GDP growth rate for the first half of the fiscal year was measured at 6% and by the end of the year the growth rate is most likely to be between 6% to 6.5%.

P. Chidambaram
Economic Survey 2017-18 was presented by CEA Arvind Subramanian on January 29.

P. Chidambaram also came down heavily on government’s failure to imply policies like Jan Dhan account, LPG connection, toilets and village electrification. In a sharp criticism of government’s future plans to improve the economy, he said, “The future course of the economy is conditional on many ifs.” He said the Survey promises economic growth on conditions 1) World Economy maintains its growth momentum and 2) Oil prices do not persist at current levels.

Talking about macroeconomic variables, he slammed the government saying the Fiscal Deposit and Current Account Deposits have come down which “belies government’s claim of sound macroeconomic variables. In a scathing remark, he criticized Modi government’s policies in the Private investment sector. He said the government has thrown the burden on private Investments and exports. Calling the upcoming reports on fiscal deficit depressing, Chidambaram said, “The government has thrown in towel and hopes that Private Sector will come to its rescue.”

P.Chidambaram had earlier slammed the Modi government for not delivering its promise of providing jobs to the youths. Taking a jibe at PM Modi’s comment that “Even a Pakoda-seller is employed”, the Congress leader had tweeted, “Even selling pakodas is a ‘job’ said PM. By that logic, even begging is a job. Let’s count poor or disabled persons who are forced to beg for a living as ’employed’ people.”


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