Published 11:21 IST, October 7th 2019
Abhishek Singhvi probes centre on economy, claims structural weakness
Abhishek Singhvi on Monday, Oct 7 attacked the Central Government for its handling of the economy, and claimed that there were indicators of structural weakness
- Economy News
- 3 min read
Senior Congress leader Abhishek Manu Singhvi on Monday, October 7, attacked the Central Government for its handling of the economy of the country and asked the Government of India to ‘wake up’. Singhvi took to Twitter to express his disappointment and listed several factors which according to him, indicate serious structural weakness. He also tweeted about the rate of Indian rupee falling against the US dollar
Read Abhishek Singhvi’s tweets here:
Singhvi takes a jibe at the Central government
Abhishek Singhvi has been very vocal in expressing his views on the state of the economy. Last month, the senior Congress leader took a dig at the BJP-led government over the economic slowdown and questioned how it would fulfil the promise of making India a $5 trillion economy.
RBI hopes for a recovery in growth
The Reserve Bank on Friday sharply cut its economic growth projection for this fiscal to 6.1% from 6.9% earlier, but expressed hope that the growth will recover in the second half of 2019-20. The central bank's estimates come in the wake of GDP growth sliding to a six-year low of 5% in the June quarter, on a massive slowdown in consumption and private sector investments. The central bank cut key interest rates for the fifth time in a row.
Niti Ayog vice-chairman's view on the Indian economy
In the recently held India Economic Forum 2019, attending a session named “South Asia Economic Outlook" Niti Ayog vice-chairman Rajiv Kumar highlighted India's commitment to doubling the per capita income which will, in turn, all lead to a $5 trillion economy. “India is the fastest-growing economy, there is a dip in current quarter definitely but with fruitful measures, all will be tackled,” added Rajiv Kumar.
Updated 11:59 IST, October 7th 2019