Ex-PM Manmohan Singh hits out at Modi govt, calls slowdown ‘man-made crisis’, Urges Govt To Fix Economy

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.”

“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.

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.

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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 […]