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FM's measures cosmetic, govt clueless on economy: Congress

Saturday - September 14, 2019 5:36 pm , Category : BUSINESS
N0ew Delhi, Sep 14 (IANS) The Congress on Saturday hit back at the Modi government after Finance Minister Nirmala Sitharaman announced a slew of measures to revive the economy, dubbing them as "cosmetic measures" and said the government was "clueless" over the economy which is in shambles.
Addressing a press conference, senior Congress leader Anand Sharma said, "India's economy is in shambles, we are facing a grave situation but the government with its false promises and its outspoken ministers, is not working towards stopping that."
Slamming the Finance Minister, Sharma said, "Sitharamanji just concluded a press conference. It was disappointing looking at India's economic situation, it was expected that the government would take steps to resuscitate the economy, increase investments, create jobs, and address issue of exports."
The Congress leader said that the Finance Minister did not announce any measures that would address the current economic situation.
"The BJP and its ministers lack a vision to revive the economy," he alleged.
Hitting out at the Finance Minister for blaming the youth and millennials for the economic slowdown, Sharma said, "The BJP ministers have been making shocking statements insulting the youth. The Finance Minister said that the millennials are responsible for the economic slowdown and has not apologised for her statement so far."
Sharma also said the government has no concrete plans to revive the economy.
He also said to improve the economy, the investment should come from the government.
"But no such announcements were made by the Finance Minister. And till the time public investment is not there economic revival is not possible," he said.
He said the government is also low on reserves. Citing the figures of the government, Sharma said that in the last financial year, the government was Rs 1.7 lakh crore in deficit. This year they have a target of Rs 24 lakh crore, but in last five months they have only managed to get Rs 5.4 lakh crore.
Slamming Sitharaman for claiming that inflation was under control, the Congress leader said, "It is surprising that the Finance Minister is making such statements when economy is in shambles. When economy is weak, inflation is not seen, but the things like investment, export, demand is considered."
He said, the economic slowdown in the country is due to the "directionless" policies of the government.
Sharma also pointed out at the atmosphere of disappointment and fear in the country.
"People are losing faith and this will deeply damage our democracy. It's not about a few citizens, it's about the democracy," he said, adding that he was referring to the recent issue of Article 370 over Jammu and Kashmir.
"It is about the fundamental rights of the citizens, political leaders, Congress leaders. It is expected that the judiciary will do justice," he said.
Sharma said that it has been observed that our legal institutions have been stalling a lot of important matters.
"Stalling important issues invites global flak, and Indian citizens, for whom it is a matter of their fundamental rights, are also disheartened," he added.

--IANS aks/kr