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Govt caught 'Karo Na' virus: Congress makes jibe on economy

Friday - February 28, 2020 10:06 pm , Category : INDIA
New Delhi, Feb 28 (IANS) The Congress once again took a jibe on the government, saying that under it, the economy has got infected by "Karo Na" (Don't do anything) virus.
In a statement, Congress spokesperson Randeep Surjewala said "The latest GDP numbers reflect that "Karo-na" (Don't do anything) virus has plagued the functioning of the BJP government."
"The economy is in shambles, stagflation is there, every indicator of economy is showing a downward trend, yet the government continues to function as an ostrich."
The Congress alleged that the BJP government is ignoring all the alarming econmic indicators.
To bolster his claim, Surjewala shared the figures of the quarter, saying: "The GDP in the third quarter i.e. December 2019 was recorded to be 4.7 per cent and GVA was at 4.5 per cent."
Another spokesperson Gaurav Ballabh, a professor in a management college, said, "Manufacturing growth is minus 0.2 per cent (during Q3) which clearly indicates that there's no improvement in the demand."
He also gave example of the real estate sector as he said that it is at an all time high stress with more than 12 lakh units lying unsold and there are no signs of revival as of now.
The party said the demand and consumption sentiments are still low despite so-called stimulus by the government in September 2019 and the Budget 2020-21 which shows that the government is not concerned.
Exports are significantly low and industries are under stress which is clearly visible in the umemployment rate. The government is doing nothing to stop this unabted risk in the country, the party said.
The economy is in a huge risk as capital formation is at a negative of 5.2 per cent clearly indicating that there's no positive outlook for investments.
"Does government wants to manage the numbers through unclear revisions? Why aren't they coming out with the truth? It's not the 20 basis point improvement, which will improve the sentiments, rather action should be taken with right intent," said Surjewala.

--IANS miz/rt