‘Economy being dismantled’
ATTACK Manmohan criticises note ban, hasty implementation of GST; says govt’s duty to deal with NPAS
BENGALURU: Former prime minister Manmohan Singh on Monday attacked Prime Minister Narendra Modi over the state of India’s economy, saying the country was facing crises that were avoidable.
“Our nation today is experiencing difficult times. Our farmers are facing an acute crisis, our aspirational youth are not finding opportunities, and the economy is growing below its potential. The unfortunate truth is that each of these crises was entirely avoidable,” he said, addressing a press conference in Bengaluru ahead of the May 12 state polls.
Singh said it pained him to see the government stifle dissent when deficiencies were pointed out, rather than stand up to challenges. The former prime minister said it was important to pay careful attention to policy making as it affected people’s lives, and, hence, it was crucial to not act on “mere whims and fancies”.
“The United Progressive Alliance delivered an average growth rate of 7.8% despite turbulent global conditions. The NDA, on the other hand, has managed lesser growth rate despite a favourable international climate and low oil prices. In fact, growth rate under the NDA is lower in spite of the change in methodology, which paints a rosier picture than reality,” Singh said.
Singh criticised the move to demonetise high-value currency and the “hasty implementation of GST (goods and services tax)”, calling them blunders that severely affect micro, small and medium enterprises, causing “the loss of tens of thousands of jobs” in the process.
He also criticised the government for not passing on the reduc- as to what led to the problem.”
“What took years of hard work to make the Indian economy the third largest in the world is being dismantled through systematic efforts that have no grounding in logic,” the former PM said.
“When asked to explain reasons for economic ills of the last four years, Prime Minister Modi tends to blame everything on the 70 years of Congress rule. He forgets the role of the Green Revolution. He does not mention the role of policies of economic liberalisation of the 1991-96 in transforming the industrial economy,” he said.
Singh said development of cities required sustained funds and innovation. “Instead, the Modi government has been content to simply come up with catchy tags like AMRUT and Smart Cities, which have underperformed spectacularly,” he said.
Contrary to Modi’s assurances, Singh said, in the age group of 15-24, about 7.2 million jobs were lost over the last four years.
“This usually happens when external factors are unfavourable. However, job destruction in India is due to mismanagement on the part of Modi and his team. True leadership creates opportunities, it does not destroy them,” the former prime minister said.
Singh warned that the country’s position as an IT superpower was under threat. “The situation could get worse if the Modi government fails in its duties at protecting H1, H4 and L1 visas for our professionals,” he said.
“Reduced budgets, administrative takeovers, and harassment of students and dissenting voices are a violation of our Constitutional norms. It does not help that ministers in Modi’s cabinet and even BJP chief ministers regularly make comments promoting irrationality,” he said.