At the Congress Working Committee (CWC) meet on Tuesday, former Prime Minister Manmohan Singh and party president Sonia Gandhi lashed out at Narendra Modi over his style of functioning over the last three years. A raft of jibes was taken at PM Modi and ruling BJP at the Centre during the party’s supreme decision-making body CWC meeting. Besides the attack on the government, party leadership has asked its members to be prepared for the 2019 Lok Sabha Elections. Singh had earlier criticised PM Modi over demonetisation move saying the note ban would have a very significant adverse effect on the country’s GDP.
Here are five crucial points from Singh’s attack on the Modi government
1. Manmohan Singh said that India’s economic growth has slowed down sharply due to the note ban that was ordered by PM Modi on November 8.
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2. Singh said that private sector investment has collapsed and the economy is running on just one engine, which is public spending.
3. Former PM expressed serious concern over the situation, particularly the impact on job creation. “The most worrisome aspect of all this is the impact on job creation. Jobs have been extremely hard to come by for the youth of the nation,” he said.
4. Manmohan also highlighted the job-loss factor. He noted that the construction industry, which is one of the largest employment generators in the country, has suffered contraction. This, he said, “implies the loss of millions of jobs for the nation’s workforce”.
5. The former Prime Minister, an acclaimed economist himself, said the Gross Value Addition (GVA) is the true sub-measure of economic activity and it has experienced a steep and sustained fall. Singh said the GVA growth of industry has fallen from 10.7 per cent in March 2016 to just 3.8 per cent in March 2017, a decline of nearly seven percentage points of growth.
On January 9, while speaking in Rajya Sabha during a debate on the demonetisation issue, Singh had flayed the central government and PM Modi over the note ban, saying its implementation was a monumental management failure and a case of organised loot and legalised plunder. Singh was speaking in the presence of Prime Minister Narendra Modi in Rajya Sabha.