The Congress today announced to hold a series of press conferences and protests against the central government over the economic slowdown. The grand old party is scheduled to hold 35 press conferences and protests from November 1 to 15.
The Congress has drawn up an elaborate plan to corner Prime Minister Narendra Modi-led central government ahead of the Winter Session of Parliament which begins on November 18. The party today announced to hold a series of press conferences and protests against the central government over the economic slowdown. The grand old party is scheduled to hold 35 press conferences and protests from November 1 to 15.
“The Congress party to hold 35 press conferences from November 1st to 8th against Central government over the economic situation. The party will also hold protests from November 5th-15th over the matter,” news agency ANI reported.
The Indian economy has been going through some difficult times with the GDP growth coming down to 5 per cent in the first quarter of the current fiscal. While the opposition parties blame the policies of the central government for the current slowdown, the government claims that it is a temporary phase triggered by some global factors and India will soon become the fastest-growing large economy.
Earlier this month, the World Bank cut India’s growth forecast from 7.5 per cent to 6 per cent for the current financial year. It said that the main policy challenge for the country is to address the slowdown in private consumption and private investment. In the last few months, the government announced a slew of measures to boost consumption and private investment. The Centre cut the corporate tax so that companies can plough back the excess money into the economy.
However, a section of economists and opposition leaders said that it was a miscalculated move as no firm would want to invest further when there was no demand. Congress spokesperson Supriya Shrinate said that the money should have come into the hands of people but the government gave relief to corporate. “The government cuts corporate tax in the hope that they will invest more. The decision to cut corporate tax will not help in investment. The firms will now fix their balancesheet but not invest. The spending power of the common man should rise,” she said.