New Delhi: With no light at the end of the day to the ongoing economic slowdown, Rajasthan Deputy Chief Minister and Congress leader Sachin Pilot on Thursday said that instead of living in “denial”, we need to ”accept the reality” and give suggestions to work out the crisis.
“The first step is to accept the reality and not live in denial. All surveys in India and across the world say that the economy is in bad condition. If we have a problem, then instead of criticizing, we should give positive suggestions,” he said.
Pointing out the fall in growth numbers in almost every sector in the country, he said, “There is a slowdown in every sector today. Investors’ confidence has gone down, NPAs have gone up, banks are not giving loans, jobs are not being created, factories have shut down.”
He further said that the biggest problem that has caused such a massive slowdown in the economy is unemployment. “We’ll have to accept that when the formula of calculating figures of the economy was changed, GDP was automatically increased by 2%. Figures say that the biggest problem is unemployment. Concrete steps should be taken to balance the macro-economic environment,” he said.
Pilot’s comments come at a time when the Congress has been repeatedly bashing the Modi government for the massive economic downturn, with the GDP growth rate falling to a seven-year low of 5% in the first quarter of FY20.
Yesterday, former Congress president Rahul Gandhi had poked fun at Prime Minister Narendra Modi’s “Howdy Modi” event in Houston on September 22. “‘Howdy’ economy doin’, Mr Modi? Ain’t too good it seems,” Gandhi had tweeted.
The mega-event “Howdy Modi!” that will take place at Houston’s NRG Stadium is expected to be attended by 50,000 members of the Indian-American diaspora where PM Modi will address the Indian diaspora. It will also be joined by US President Donald Trump.