Modi govt's 'Gross Econ Mismanagement' decelerated India's growth: Cong

New Delhi, Jan 10: Charging the Narendra Modi government with mismanaging the economy, the Congress on Wednesday said the government's 'Gross Economic Mismanagement' had decelerated India's growth story.

In a statement, AICC media in-charge Randeep Surjewala said, 'As Prime Minister meets his Economic Advisory Council (which has been virtually non-functional) and others to go through the motions of accessing macro economic picture, the stark truth is that Modi Govt can’t shirk from the responsibility of ‘Gross Economic Mismanagement’ that it has heaped upon our robust economy. As Modiji interacts with top economists today, his Govt's Gross Economic Mismanagement, which has decelerated the India Story, speaks volumes through the various parameters of the economy. '
In this context, he pointed out that GDP growth had slowed to a four year low, from 7.5 per cent in 2014-15 to 6.5 per cent in 2017-18 (estimated) while Gross Value Added (GVA), a true sub-measure of economic activity, had experienced a steep fall , from 7.2 per cent in 2014-15 to 6.1 per cent in 2017-18 (estimated ).
Describing the Modi government's promise of giving farmers a support price that is 50 per cent more than cost of production of a crop as the 'Biggest Hoax' played by Mr Modi on the country's ryots, who were now being forced to throw their produce on road, Mr Surjewala said, 'Dismal 1.9 per cent average Agricultural growth rate during the Modi Government is testimony to their pain. '
Mr Surjewala said that 'Make in India ' was fast becoming 'Fake in India' as manufacturing tumbled, retail inflation had soared to a 15-month-high and, fresh investment was at a 13-year-low.
'Overshooting Fiscal Deficit is a cause of concern while Bank Credit Growth is at 63 year low,' he said. UNI