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Modi government does not acknowledge word 'slowdown': Manmohan Singh on economy

Modi government does not acknowledge word 'slowdown': Manmohan Singh on economy

India Blooms News Service | @indiablooms | 19 Feb 2020, 11:57 pm

New Delhi/IBNS: In an apparent dig at the present regime over the falling economy, former Prime Minister Manmohan Singh on Wednesday said the Narendra Modi government does not acknowledge the word "slowdown", media reports said.

Singh made the comment at the launch of former Planning Commission deputy chairman Montek Singh Ahluwalia's book Backstage.

"If you do not recognise the problems that you face, you are not likely to find credible answers to take corrective action. That is the real danger," the former Prime Minister said as quoted by The Indian Express.

"I think these issues will be debated and should be debated because we have today a government that does not acknowledge that there is such a word as slowdown. I think this is not good for our country," the Congress veteran added.

The Modi government's economic policy came under the scanner over the falling of Gross Domestic Product (GDP), which recorded 4.5% in the immediate last quarter, over the last several quarters.

In more worry for the Centre run by the Hindu nationalist Bharatiya Janata Party (BJP), the International Monetary Fund (IMF) in its World Economic Outlook last month in Davos said the domestic demand in India reduced "more sharply than expected" apart from the stress in "non-bank financial sector" and a "decline in credit growth".

IMF chief economist Gita Gopinath had said the slowdown in the Indian economy is expected to have an impact on the growth of the world economy.

 

Modi government does not acknowledge word 'slowdown': Manmohan Singh on economy

India Blooms News Service
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