Anand Sharma says PM Modi’s reckless decisions caused damage to economy

The debate on economy going on downward spiral is not dying down. It got fuel after Yashwant Sinha’s article on economy where he blamed the government’s decisions for ailing GDP growth figures.

Now, senior Congress leader Anand Sharma has said that India is in real danger of slipping into economic depression and blamed Prime Minister Narendra Modi of being singularly responsible for damage by his reckless decisions.

“It is a matter of grave concern that the Indian economy is fast slipping into deep recession, with no hope of recovery in the foreseeable future. All fundamental parameters remain in constant decline,” he alleged.

“India is in a real danger of slipping into economic depression. The government must release a white paper on the state of Indian economy, to restore the health of PSU banks through urgently needed recapitalisation and the measures it proposes to arrest the free fall,” he said in a statement.

Earlier, senior Congress leader and former finance minister P Chidambaram had come out in support of Yashwant Sinha who questioned Modi government’s economic policies. He claimed that government's policies has pushed the economy into a downward spiral.

The senior Congress leader wrote on Twitter, "Yashwant Sinha speaks Truth to Power. Will Power now admit the Truth that economy is sinking?"

Congress vice-president Rahul Gandhi also took a jibe at Centre and wrote on Twitter, "Ladies & Gentlemen, this is your copilot & FM speaking. Please fasten your seat belts & take brace position. The wings have fallen off our plane."

In his column written in the Indian Express,  the former Union Cabinet minister scathed criticism on how the Modi-led government made a blunder by assigning Arun Jaitley responsibilities one too many.

He added that his former colleague Jaitley's pedigree in finance was unquestionable but he was overburdened with critical portfolios like defence, finance, and corporate affairs at the same time.

He brought to fore that the finance ministry is a humongous task by itself and demands full-fledged attention if needs to be handled in an effective manner. Naturally, even a superman like Jaitley could not do justice to the task.