New Delhi: The Congress on Saturday alleged that Finance Minister Nirmala Sitharaman was “clueless” in dealing with the economic slowdown and termed the latest steps announced by her to boost the economy as “cosmetic” and “piecemeal”.
The Congress’ attack came after Sitharaman announced an over Rs 70,000-crore package for exports and real estate sectors, including setting up of a stressed asset fund, as the government continued with firefighting measures to pull the economy out of a six-year low growth rate.
“I can only say that the finance minister is clueless as to how to deal with the gravity of the crisis,” Congress spokesperson Anand Sharma said at a press conference.
After the earlier announcements of stimulus package, the situation deteriorated and the latest steps are not going to help, Sharma asserted.
“The finance minister of India is lacking in macroeconomic understanding. A comprehensive package for economic revival was expected,” he said.
“The steps announced today will not revive the Indian economy, they are purely cosmetic, piecemeal and also convey the arrogance of the government and its indifference to the seriousness of the situation,” he said.- PTI
Please refer to former Prime minister Dr. Manmohan Singh statement where he has given a five point plan regarding how the recent crisis can be tackled.
It seems the present govt. is not interested in accepting the proposal as that would reflect the lack of ideas on their front. Secondly it will puncture the idea that the economy is doing fine.
It is better that people reflect on the performance of the present govt. and decide on the Congress performance as they are not in power.
The welfare schemes launched for the poor are good to start and consolidate the votebank but finding the money to run it
will depend on the state of the economy.
Oh! The Congress party had been so “clueful” that it deliberately (with the help of dubious “economists” like Amarthya Sen) managed to make the economy grind to a halt, whilst the rest of the world economies were progressing, unlike right now!
Nirmala Sitharaman clueless in dealing with economic slowdown. We had a man with all the clues ruling this country for ten years and what did he give us, CWG, 2G, CoalGate and NPAs. He was thrown out unceremoniously not once but twice. Why can’t all these great economists get together and device a detailed plan with specific recommendation to save the situation. All of them want structural reforms, improved investment cycle, growth in savings, lower interest rates all in generalities. Either they have no plan or they think that people will trust them the next time around, which is unlikely in absence of a credible face leading them. Let them say that no public money was ever stolen or just put up an estimate proven & otherwise. Just look at the life style of each of them. Sir, just as the gas connection, electricity connection, the jan dhan account made a difference in the life of a common man so has the stop put to the big time thefts. Next elections will reflect that no matter what happens to economy. Honesty has a premium.
1. One wishes that a senior Congress leader Anand Sharma does something which would enhance his image as a mature politician. His criticism is not only misplaced but it is without understanding likely impact of measures which Union Finance Minister announced yesterday. 2. I think the way Congress leaders react to current economic crisis is immature. When would our politicians look at the problems of economy as opportunity to set things in order? Is anyone enjoying the economic slowdown? 3. Is it not true that the economic slowdown, which is being experienced not only in our country but also in many Asian economies, has a direct relationship with international factors, especially USA-China trade war? 4. Citizen-voters like me wish that elder political leaders like former PM and economist Dr Manmohan Singh should offer a hand of cooperation to NDA government and make concrete suggestions for implementing measures to ensure that the country’s economy slowly but surely comes out of recessionary cycle.
Instead of trading barbs, it would be more helpful if the Congress party put forward concrete suggestions about what the government should do. Both to deal with the macroeconomic situation and specific to various sectors.
Ashok Ji, completely understand your suggestion. However, didn’t Former PM Shri Manmohan Singh earlier appeal the govt to have consultation with opposition and other people who could help deal with the current crisis. He also shared his thoughts on high level steps that should be considered. And what was the disappointing response from our Sarkar?