Economy in ICU, look-out notice for those defending civil liberties: Kapil Sibal slams Modi govt

Senior Congress leader Kapil Sibal on Friday took a swipe at the government, saying the “Indian economy is in ICU” and the Modi dispensation has issued a look out notice” for all those defending civil liberties. His jibe was in reference to CBI issuing notices to former Union minister and Congress leader P Chidambaram. “The events of the last few weeks have shown that both, the economy and the cause of liberty, need a stimulus package," said Sibal.

In a tweet he wrote, "the economy is in ICU and government has issued a ‘look out notice’ for all those defending civil liberties."

On Thursday, Chidambaram was sent to CBI custody till August 26 by a Delhi court in the INX Media corruption case. Special Judge Ajay Kumar Kuhar heard the arguments of CBI and Chidambaram's counsel for over one-and-a half-hour before sending Chidambaram to CBI remand till Monday. The arrest happened after he had failed to get protection from the Supreme Court, which did not list for an urgent hearing his appeal against the Delhi High Court verdict dismissing his anticipatory bail plea on Tuesday.

Government think tank Niti Aayog on Thursday made a case for extraordinary steps to deal with the unprecedented stress in the financial sector which has resulted in an economic slowdown in the country. The government needs to take steps which eliminate apprehension from the minds of private sector players and encourage them to step up investments, Niti Aayog vice chairman Rajiv Kumar said.

He also said private investments will drive India out of the middle-income trap. Terming the stress in the financial sector as unprecedented, he said nobody had faced this sort of situation in the last 70 years where entire financial system was under threat.

"Nobody is trusting anybody else... within the private sector nobody is ready to lend, everyone is sitting on cash...you may have to take steps which are extraordinary," he said at an event.