Narendra Modi govt pushing India towards financial emergency: Congress

The Congress Thursday accused the Modi government of pushing the country towards economic collapse and a financial emergency, and said note ban, GST and lockdown were "disaster strokes" not "masterstrokes".

The party's chief spokesperson Randeep Surjewala said the GDP slump in the first quarter will have an adverse impact on the average income of every Indian, which is likely to decline by almost Rs 15,000 per person if the GDP fell by 11 per cent in the full year.

He said the government and Finance Minister Nirmala Sitharaman should not stay in office for any longer as they have “inflicted a big blow and damage” to the country's economy, seen never before in the country's history since independence.

"There are dark clouds of economic decay all around us. Lives, livelihoods and jobs have been ravaged. Businesses and small and medium industries lie dilapidated. The economy stands destroyed as GDP has been razed. India is being pushed towards economic collapse and a financial emergency," Surjewala told a virtual press conference.

The Congress leader alleged that demonetisation, GST and lockdown were not "masterstrokes" but "disaster strokes".

Surjewala alleged the Modi government has "plundered" the economy in the last six years and is now “describing its own ineptitude and incompetence as an act of God".

Sadly, this is the only government in the past 73 years which has blamed God for its own “follies”, he said.

"Time to rise from the shackles of this ruinous Modi government and rediscover the aspirations and hopes of India," the Congress leader said.

He said the GDP under Modi government has become "Grave Damage to Public Good" and if the GDP for the full year 2020-21 was to fall by 11 per cent, it would lead to a reduction of at least Rs 14,900 in the income of every Indian.

He alleged that inflation is hitting the common man hard and the "surge" in taxes and an economy in free fall have broken the back of people.

"Today, India suffers from a confidence deficit in the Modi government. Ask the Micro, Small and Medium Enterprises and they will tell you that neither do the banks extend loans or financial assistance nor do the words of the Finance Minister have any meaning.

"States have no faith in the Central government. An atmosphere of distrust is prevailing," he alleged.

Accusing the Central government of turning a defaulter by not paying GST compensation to states, Surjewala said this is an attack on federalism.