If unemployment rises and incomes decline, youth may explode in anger: P Chidambaram

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Published: January 14, 2020 9:39 AM

The sliding economy is an even greater threat to the country, the former finance minister said in a series of tweets.

Retail inflation jumped sharply to 7.35 per cent in December 2019, surpassing the RBI’s comfort level, mainly due to high food prices, government data showed on Monday.

Senior Congress leader P Chidambaram on Tuesday attacked the Modi government over the state of the economy, saying if unemployment rises and incomes decline, there is a danger of youth and students “exploding in anger”. “The nation is engrossed with the anti-CAA, anti-NPR protests. Both present a clear and present danger,” Chidambaram said.

The sliding economy is an even greater threat to the country, the former finance minister said in a series of tweets. “If unemployment rises and incomes decline, there is the danger of youth and students exploding in anger,” he said. Chidambaram also attacked the government over the rising consumer price index (CPI) inflation.

Retail inflation jumped sharply to 7.35 per cent in December 2019, surpassing the RBI’s comfort level, mainly due to high food prices, government data showed on Monday. The retail inflation based on Consumer Price Index (CPI) was 2.11 per cent in December 2018 and 5.54 per cent in November 2019. “The circle of incompetent management is complete.

Mr Narendra Modi’s government started in July 2014 with CPI inflation at 7.39 per cent. In December 2019, it was 7.35 per cent,” Chidambaram said. “Food inflation stands at 14.12 per cent. Vegetable prices are up 60 per cent. Onion prices are over Rs 100 per kg. This is the ‘achhe din’ promised by the BJP,” he said.

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