New Delhi: Minutes after former Prime Minister Dr Manmohan Singh said that the ‘much-advertised double engine model’ of the BJP government has utterly failed, Union Railways Minister Piyush Goyal on Thursday hit out at the former PM, saying he should reflect on his own failures.
Goyal also said that the former PM should reflect on why he was so helpless during his tenure that he had to obey orders from 10 Janpath and had no capacity to take his own decisions.
“Dr Manmohan Singh should reflect on his own failures, where he went wrong, why he couldn’t maintain a strong economy and give an honest government, why he was so helpless that he had to obey orders from 10 Janpath and had no capacity to take his own decisions,” Goyal said.
Singh, who is one the star campaigners from the Congress for Maharashtra Assembly Election 2019, was addressing a press conference in Mumbai’s Wankhede stadium on the topic ‘Words of Wisdom on Indian Economy’.
“The much-advertised double engine model of governance on which BJP seeks votes has utterly failed. Maharashtra has faced some of the worst effects of the economic slowdown. The manufacturing growth rate of Maharashtra has been declining for the fourth consecutive year,” he said.
The former PM said he does not think there is ‘any hope’ of the Indian economy reaching the target of five trillion dollars by 2024 as the growth rate is going down year after year.
“I have said this publicly before that to reach a goal of five trillion dollar by 2024, as against 2.7 trillion dollar that we had in 2018, would require a growth rate of 10-12 per cent per annum. What is happening in BJP regime is that the government is faced with prospect of a declining rate of growth year after year,” Singh was quoted as saying by ANI.
He said that when his party was in power at the Centre, his government that time had delivered loan waivers during agricultural distress.
Slamming Finance Minister Nirmala Sithraman for her statement on Wednesday that public sector banks had the ‘worst phase’ under him and former RBI chief Raghuram Rajan, Manmohan Singh said, “I will not like to comment on Finance Minister Nirmala Sitharaman’s statement, but I can say one needs to diagnose the economy.”
Last month, Singh had stressed the need for adopting a ‘well-conceived national strategy to make India a five trillion dollar economy.
Earlier while addressing an event at Laxmipat University in Jaipur, Singh had said, “At present, our country seems to have slowed down somewhat. The rate of GDP is declining. The investment rate is stagnant. Farmers are in distress. The banking system is facing a crisis, and unemployment is going up. We need a well-conceived national strategy to make India a five trillion dollar economy”.