Senior Congress leader Kapil Sibal on Friday blasted Prime Minister Narendra Modi for breaking the economic backbone of the country by weakening the GDP since storming to power in 2014. The 70-year-old lawyer was extremely critical of the BJP regime at the Centre and laid blame on demonetisation and GST for the stagnated economic growth of the country.
Kapil Sibal’s comments have come in the wake of sky-rocketing prices of petrol and diesel, and the free-falling value of rupee against the US dollar which crossed the Rs 72-mark on Friday. In Mumbai, a litre of petrol is being sold at Rs 87.39 and with the meteoric rise in prices lately, it is a matter of time when it will cross the 90-mark.
While speaking at a meet in New Delhi, Kapil Sibal said that the way India lost 1.5% of its GDP solely due to demonetisation, had it been any other country, PM Modi would have been forced to resign as the head of the state.
Sibal also took aim at the Goods and Services Tax (GST) saying the manner in which GST was implemented, here was a man with the majority in the Parliament and none of his radical decisions have helped the economic growth or liberalisation of the country in past 4 years.
“He (PM Modi) charged us that because of policy paralysis, we couldn’t take India forward but his policy paralysis brought the GDP down to 8.2% which has never happened in the history of this country. That was the result of a policy paralysis and I assume there’s no policy paralysis today, where is GDP,” asked the former Law Minister.
Prominent Indian economist and former Prime Minister Manmohan Singh was also in attendance at the event and he also stood at the podium to share his two cents on India’s economy. Apart from the routine digs at demonetisation and GST rollout, and how they drove many out of business and work, Manmohan Singh also talked about the alarming unemployment rate.
“Our youth are desperately waiting for the promised 2 crore jobs. Employment growth rate has been declining in the last 4 years. People aren’t impressed with the figures being put out by Modi government to justify the creation of a large number of jobs,” said the former Prime Minister.
The Congress is no mood to take the rising value of rupee and fuel prices lightly, they have announced that they will stage a protest in New Delhi on September 10 and will raise questions to the Central government.