Congress hits out at Modi govt over flailing economy, calls it 'Act of Fraud'

The Congress on Thursday continued to corner the Modi government over the stuttering economy that reported its steepest economic contraction in decades saying India is being pushed towards a "financial emergency".

"There are dark clouds of economic decay all around us. Lives, livelihoods, and jobs have been ravaged. Businesses and small and medium industries lie dilapidated. The economy stands destroyed as GDP has been razed and mowed down. India is being pushed towards a 'financial emergency'," Congress spokesperson Randeep Singh Surjewala said in a press conference.

Playing on Finance Minister Nirmala Sithraman's infamous attribute of 'Act of God' to the economic decline, Surjewala said the Modi Government has plundered the economy in the last six years by its "Acts of frauds". "The government now describes its criminal ineptitude and culpable incompetence as an 'Act of God'. Sadly, this is the only Government in the past 73 years which blames 'God' for its own frauds and bluster," he said.

India's GDP growth for the first quarter of FY21 stood at -23.9% as per data released by the National Statistical Office (NSO) on Monday, making it the worst contraction on record.

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'Running scared of answering relevant questions'

Slamming the government for "abolishing" the Question Hour in the upcoming monsoon session of Parliament, the Congress leader said the government is running scared of answering relevant questions on issues like the economy, coronavirus, and tensions with China.

"By abolishing question hour in Parliament, the government is running scared of answering relevant questions. Modi government doesn't want to answer on brazen transgression by China onto Indian Territory, the blunder of Indian economy, falling GDP, and over 12 crore job losses," he said.

He also took the government over its inability to pay the states' share of GST as revenues have dried up due to economic decline. "In the meeting of 'Parliamentary Standing Committee on Finance' dated August 11, 2020, the Finance Secretary clearly said that the Government of India is not in a position to give GST compensation to States. The latest SBI report of September 1, 2020, predicts a shortfall and revenue loss of 3 lakh crore in GST collections for the States. How will States meet their expenses? This is economic anarchy," he said.

READ | GST Revenue At Rs 86,449 Crore In August, Down 12% From Same Month Last Year

(image credits: PTI)