State of economy cause of ‘extreme concern’: P Chidambaram at Congress Chintan Shivir

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Senior Congress leader P. Chidambaram on Saturday asserted that the state of Indian economy is a cause of “extreme concern”, and added it may be necessary to contemplate a reset of economic policies. Addressing a press conference in New Delhi, Chidambaram said that a slower rate of growth has been the “hallmark” of the present government in the last eight years, and there has been an “indifferent and halting” post-pandemic recovery.

Addressing a press conference, Chidambaram said a slower rate of growth has been the “hallmark” of the present government in the last eight years, and the post-pandemic recovery has been “indifferent and halting”. The former Finance Minister said even if all major economies are slowing down in 2019, government wants India to grow at 7 per cent. The reasons for slowdown are manifold – global trade war, internal conflicts within WTO, Brexit and weakening investment climate.

Taking into account global and domestic developments, it may be necessary to contemplate a reset of economic policies. A slower rate of growth has been the ‘hallmark’ of the present government in the last eight years, he said. “This means serious thought needs to be given to whether we should persist in the same direction,” he said.”

Senior Congress leader P Chidambaram on Saturday said the state of the economy is a cause of “extreme concern” for his party, and that now may be an apt time to contemplate a reset of policies. Addressing a press conference in New Delhi, he acknowledged that the economy has grown more slowly under this government than it did under previous governments. Mr Chidambaram said it was time for a “critical evaluation” of the economic situation by all parties involved in policy-making

Taking into account the global and domestic conditions, it may be necessary for the Congress party to contemplate an economic policy reset, senior party leader P Chidambaram said on Saturday. “It’s been a mixed picture. We are not satisfied with the performance of our government,” he said, adding that the state of economy is a cause of “extreme concern”.

Analysing the economy at the Congress plenary, he said, “Economic policies have been ten year old notebook, which has become dog-eared in many places. It is time we took into account global and domestic developments and contemplate a reset.” The government has been trying to project itself as an agent of change but it seems that it is stuck in the past, Chidambaram said.

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