Chidambaram said: yes economy is in the depression
He speaks the truth, says Chidambaram.
The Congress certified former Finance Minister Yashwant Sinha’s view that the “Indian economy is in a mess” under the Narendra Modi government.
“It is not often that the principal Opposition party will welcome a statement of a old hand leader of the ruling party. Today, I sincerely applaud the article of Mr. Yashwant Sinha because it speaks the truth about the economy,” former Finance Minister P. Chidambaram said at a press conference here on Wednesday.
Mr. Chidambaram said he agreed with Mr. Sinha’s inspection that the economy’s actual growth was 3.7% instead of 5.7% if one took into account the change in the method for computing GDP.
Accusing the Modi government of being “unconscious about what is causing the economic decline,” he said: “It will be a sensation if they can turn it around.”
Mr. Sinha, now part of the BJP’s Marg Darshak Mandal (Group for Guidance), said in an opinion piece that the economy is in the depression “as private investment has shrunk as never before in two decades, industrial production has all but distorted, agriculture is suffering and the construction industry, that is a big employer of the workforce, is miserable.”
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