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Indian economy has entered a disastrous phase of slowdown: Congress

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Published : May 8, 2019, 11:08 PM IST

Senior Congress leader P Chidambaram alleged that the Indian economy has entered a disastrous phase of a slowdown. He also quoted the NSSO report, which is not yet made public by the government. He cited that the government must fear of losing the election, if the original data comes out.

P Chidambaram


New Delhi: The recent survey conducted by the National Sample Survey Office (NSSO) that has burst out major loopholes of the NDA government, came in news once again.

According to Congress, the report has a major hole in the Central Statistics Office (CSO) data and GDP data series.

The Indian economy has entered a "disastrous phase of slowdown" under the leadership of Prime Minister Narendra Modi and Finance Minister Arun Jaitley, Chidambaram claimed, saying, "This is a scam which has to be investigated."

The party claims that the NSSO report which has not been made public yet, is full of falsehoods. 35 per cent of the companies mentioned in the data do not exist. Addressing a press conference, Congress leader P Chidambaram said, "PM Modi wants us to believe that economy is in the robust mood but the reality is much different."

He also accused Jaitley of projecting doctored information to the nation.

"The number of factories built per year on average has come down dramatically under the Modi government. The savings and investments are in a downward trend which has led to massive jobs crisis across domains," he added.

Also Read: Modi has done a good job for the country: KC Tyagi


New Delhi: The recent survey conducted by the National Sample Survey Office (NSSO) that has burst out major loopholes of the NDA government, came in news once again.

According to Congress, the report has a major hole in the Central Statistics Office (CSO) data and GDP data series.

The Indian economy has entered a "disastrous phase of slowdown" under the leadership of Prime Minister Narendra Modi and Finance Minister Arun Jaitley, Chidambaram claimed, saying, "This is a scam which has to be investigated."

The party claims that the NSSO report which has not been made public yet, is full of falsehoods. 35 per cent of the companies mentioned in the data do not exist. Addressing a press conference, Congress leader P Chidambaram said, "PM Modi wants us to believe that economy is in the robust mood but the reality is much different."

He also accused Jaitley of projecting doctored information to the nation.

"The number of factories built per year on average has come down dramatically under the Modi government. The savings and investments are in a downward trend which has led to massive jobs crisis across domains," he added.

Also Read: Modi has done a good job for the country: KC Tyagi

Intro:New Delhi: Quoting the recent survey report done by National Sample Survey Office (NSSO) showing a major hole into the Central Statistics Office (CSO) data and GDP series, Congress alleged that the Indian economy has entered a "disastrous phase of slowdown" under the leadership of Prime Minister Narendra Modi and Finance Minister Arun Jaitley, saying "This is a scam which has to be investigated."


Body:The NSSO report showed that the Ministry of Corporate Affairs (MCA)-21 data, which has not been made public, is full of falsehoods and 35 percent of the companies mentioned in this data do not exist. While addressing the press conference, Senior Congress leader P Chidambaram said, "Yet PM Modi wants us to believe that after 5 years, economy is robust. This is perhaps the weakest point of economy. The next government has a lot of work to do to repair the damage done by BJP."

He also accused Jaitley of perfecting the art of "concealing data" and "projecting doctored information." He claimed that the number of factories built per year on average has come down dramatically under Modi government, savings and investments are in downward trend which has led to massive jobs crisis across domains.



Conclusion:He promised that if Congress party came to power, they'll adopt a sectoral approach to revive various sectors of economy, besides consolidating banks. "However much PM Modi may try to take the narrative away from the economy, ultimately what matters to people of India is the state of economy," he added.
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