Senior Congress leader P Chidambaram on Friday criticized the government over the state of the Indian economy, asking if it was in the “pink of health” after high fiscal deficit, inflation, and the depreciating value of the Rupee.
He also questioned the government for “backsliding on the fiscal deficit target for the current year.
“Within months of setting the FD target at 6.4 per cent for 2022-23, government is backsliding. Now, Government is saying it will ‘try to keep the FD at 6.7 per cent’, same as the level in 2021-22,” the former finance minister said on Twitter.
“High FD, high inflation, huge FPI outflows, depreciating rupee, depletion of forex reserves – what do they point to? Is the Indian economy in the pink of health,” he questioned.
The Congress party and its leaders have been questioning the government’s economic policies and accusing the BJP dispensation of “mismanaging” the country’s economy.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.