New Delhi: Congress General Secretary Priyanka Gandhi Vadra launched a scathing attack at Prime Minister Narendra Modi for the seven-year low of Indian economy, holding his government that trumpets “Achhe Din” responsible for deflating the economy.
“GDP vikas dar se saaf hai ki achhe din ka bhonpu bajane wali BJP sarkar ne arthavyavyastha ki halat puncture kar di hai. Na GDP growth hai na rupay ki majbooti. Rojgar gayab hai. Ab to saaf karo ki arthavyavyastha ko nasht kar dene ki ye kiski kartoot hai? (It is clear from the GDP growth rate that the BJP government, which trumpets ‘Achhe Din’, has punctured the economy. Neither is there GDP growth nor rupee strength. Employment is missing. Now, make it clear who is responsible for ruining the economy?)” she said in a tweet.
The economic growth in India as on Friday, according to government data, has slumped to a seven-year low of five per cent in the first quarter (April to June) of FY20. The slowdown has been largely caused by the sudden dip in the manufacturing sector as well as agriculture output, as stated by the Ministry of Statistics and Programme Implementation.
On Friday, the Congress Spokesperson Randeep Singh Surjewala slammed the Modi government for its poor GDP numbers saying that it was pre-occupied in making “shoddy headline” and “cover-up job”, instead of addressing the structural issues ailing the economy. “The dismal and disappointing GDP data only reflects it,” he said.
The earlier low was recorded at 4.9 per cent in the April-June quarter of 2012-13. Global trade frictions and dampening business sentiment have caused consumer demand and private investment to weaken further.
The economic growth has been slipping quarter after quarter with January-March period GDP growth slowing to 5.8 per cent in FY19.
Earlier this month, the RBI slashed the repo rate for the fourth time, lowering it to 5.4 percent to spur growth by providing cheaper loans. Besides, it has reduced the GDP growth rate for 2019-20 to 6.9 percent, as compared to the earlier estimate of 7 percent.