Business Standard

Supply-side policies fail to put economy on track: Mitra to FM

- BS REPORTER

A day after North Block exuded confidence about the economic recovery, West Bengal Finance Minister Amit Mitra shot off a letter to Union Finance Minister Nirmala Sitharaman asking her to change the direction of her policies to boost demand as the common people are reeling from the economic distress of high unemployme­nt and inflation. “Your government’s supply-side policies have utterly failed. The common people are being hit from multiple directions. This is a tragic outcome arising from your government’s utterly wrong macroecono­mic policies,” Mitra wrote. Mitra rolled out statistics to prove his point. For instance, he said the unemployme­nt rate has again shot up to 8.32 per cent in August, which implies that 36 million people are jobless today.

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