Heed economists, hike spend, print more cash: Cong

New Delhi, June 1: Asking the government to not let another year go waste, the Congress on Tuesday said it should reverse its “disastrous” economic policies and heed the advice of experts by printing more money and increasing spending.

While Rahul Gandhi shared a graph on rising unemployment and said, “PM’s hall of shame — Minimum GDP. Maximum Unemployment”, former finance minister P. Chidambaram asserted that going by the performance of the economy in the last four quarters, 202021 has been the “darkest year” in four decades.

All indicators point to the fact that the economy is in dire straits, Mr Chidambaram told reporters.

“If 2021-22 should not go the same way as 2020-21 did, the government must wake up, admit its errors of commission and omission, reverse its policies and heed the advice of economists and the Opposition,” the Congress leader added.

“The current state of the economy is no doubt largely due to the impact of the pandemic, but it

If 2021-22 should not go the same way as 2020-21 did, the government must wake up, admit its errors of commission and omission, reverse its policies and heed the advice of economists.

— P. Chidambaram, Congress leader

has been compounded by the ineptitude and incompetent economic management of the BJP-led NDA government,” he alleged.

The former finance minister said good advice by distinguished economists and renowned institutions has so far been rebuffed and world-wide experience ignored.

“Suggestions on fiscal expansion and cash transfers have been turned down. Hollow packages like Atmanirbhar have fallen flat,” he said.

“We may note that Nobel Laureate Abhijit Banerjee has called for printing money and increasing spending,” he said.