New Delhi : Finance Minister Nirmala Sitharaman has reacted to the remarks made by former Prime Minister Manmohan Singh regarding the sluggish economy. According to the ANI, on the statement of former Prime Minister Manmohan Singh, Finance Minister Nirmala Sitharaman said that ” Is Dr Manmohan Singh saying that ‘instead of indulging in political vendetta they should consult sane voices?’ Has he said that? All right, thank you, I will take his statement on it. That is my answer .
‘The economy is going through a recession, is the government accepting the recession?’ On this question, Union Finance Minister Nirmala Sitharaman said, ‘I am meeting industry representatives and taking suggestions on their problems and what they want from the government. I have already done this twice, I will do it again and again. ‘
Finance Minister Nirmala Sitharaman on former PM Manmohan Singh’s remarks: Is Dr Manmohan Singh saying that ‘instead of indulging in political vendetta they should consult sane voices?’ Has he said that? All right, thank you, I will take his statement on it. That is my answer. https://t.co/hkQ46ikLGt pic.twitter.com/Rr187L2oGE— ANI (@ANI) September 1, 2019
Finance Minister Nirmala Sitharaman addressed the reporters after a meeting with tax department officials on Sunday, saying that the government would continue to promote electric vehicles, but not at the cost of other vehicles. He said that the GST Council will take a decision on cutting the Goods and Services Tax (GST). There is no lethargy in the economy and the government is listening carefully to the problems of industries and is taking steps on it. He, however, refused to accept that there was a slowdown in the economy.
Former PM has Expressed concern over the state of the Economy
Significantly, in the first quarter of the current financial year, when the economic growth rate fell to a six-year low of five percent, former Prime Minister Manmohan Singh targeted the Narendra Modi government and said that the economic conditions are very worrying and this softening of the Modi government Mismanagement results. The former Prime Minister had said that ‘Indian economy will not be able to withstand the path of continuous decline. Therefore, I urge the government to keep aside the spirit of political vendetta and negotiate with the sensible people to fuel the economy which has been trapped in the crisis that has arisen. ‘
The former Prime Minister said in his statement that the GDP growth rate of 5 per cent in the first quarter shows that we are in a period of prolonged economic softening. The former PM said that India has the potential to grow at a very fast pace, but the mistakes made by the Modi government are the reason for today’s recession. Singh said that it is particularly disturbing that the growth in manufacturing sector is 0.6 per cent. The former Prime Minister said, it is clear that our economy has still not recovered from the mistake of demonetisation and hasty implementation of GST. He said, “The confidence of investors has staggered. These are not the basis of economic recovery.