New Delhi: The Modi government is on target of opposition these days due to the disastrous economy of the country. Former Prime Minister Manmohan Singh, a fresh target on the central government, has also been an economist. He has blamed the Modi government's policies for this condition of the economy. The former PM said that, our economy has not recovered from the mistakes made by the individual, which implemented demonetisation and GST in haste. It is particularly worrying that manufacturing sector growth came in at 0.6%.
Manmohan Singh has said State of economy is deeply worrying. Last quarter GDP growth rate of 5% signals that we are in midst of prolonged slowdown," the former PM was quoted as saying by news agency PTI.
The former PM said that India has the potential to grow at a very fast pace, but the mistakes made by the Modi government are the reason for today's recession. The figures for the third quarter GDP were released on Friday.
It was reported that GDP growth in the first quarter came down to 5 per cent. In the last quarter of FY 2019, it was 5.8 percent. Due to the huge decline in consumption, the GDP figures have seen such a huge decline. The Reserve Bank of India had estimated that India's GDP growth in the financial year 2019-20 would be 6.7 percent. Dealing with the recession is a major challenge for the government.
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