Days after the finance ministry reported contraction in the GDP growth, former prime minister Manmohan Singh on Sunday slammed the Narendra Modi government blaming its policies for the economic slowdownin the country.
Former Prime Minister Manmohan Singh on Sunday said the 5% growth in India’s Gross Domestic Product (GDP) signalled a prolonged slowdown and asked the government to engage with “thinking minds by shunning vendetta politics to take the economy out of a man-made crisis.”
“Our economy has not recovered from the man made blunders of demonetisation and a hastily implemented GST… India cannot afford to continue down this path. Therefore, I urge the government to put aside vendetta politics, and reach out to all sane voices and thinking minds, to steer our economy out of this man-made crisis.”
Statement of Former Prime Minister Dr Manmohan Singh on the distressing state of the Indian Economy. pic.twitter.com/NvqL2OJLwt— Randeep Singh Surjewala (@rssurjewala) 1 September 2019
“The last quarter’s GDP growth rate of 5 per cent signals that we are in the midst of a prolonged slowdown,” he said, adding that the country has the potential to grow at a much faster rate.
Dr Manmohan Singh while speaking on Demonetisation on 25th Nov 2016 said— Roshan Rai (@RoshanKrRai) 31 August 2019
“My own feeling is that the GDP of the country can decline by about 2% point , this is an underestimate , not an overestimate” –
Today the GDP has fallen down to 5% , down by more than 2%.
1 USD = INR— Rishi Bagree ऋषि 🇮🇳 (@rishibagree) 1 September 2019
2013: 69.13 😨
2019: 71.74 Today#DrSinghOnEconomicCrisis
The prediction has come true.
Top quotes from Dr MMS in 2016 after DeMo:
– The GDP can decline by about 2 % due to DeMo
– I want to ask the PM that can he name any country where people have deposited their money but are not able to withdraw it.#DrSinghOnEconomicCrisis— Sanghamitra (@AudaciousQuest) 1 September 2019
Today, as the #EconomicSlowdown rips apart the claims of “Shreshtha Bharat” and even @BJP4India loyalists started demanding that Dr Manmohan Singh should pitch in, i remember what he said— Dr Pooja Tripathi (@Pooja_Tripathii) 1 September 2019
“History will be kinder to me than the media”#DrSinghOnEconomicCrisis pic.twitter.com/LAywIqLtAu
Calling the slowdown a “man-made crisis”, Singh, in a detailed statement, primarily blamed the Modi government’s decision of demonetisation and a “hastily implemented GST” for the current state of economy.
Here’s his complete statement in text (Hindi and English):
Dr Manmohan Singh is widely recognised for the economic reforms which he announced in 1991 when he was the Finance Minister in the Narasimha Rao government.