India’s economic outlook grim: Lok Gathbandhan Party

Urban Mirror Correspondent

New Delhi September 29: The Lok Gathbandhan Party (LGP) said that the NDA government has been trying to mislead the country over the rosy economic growth during the last four years. The LGP said the statement of the Union Minister Rajnath Singh about India becoming fastest growing economy is not backed by data and it is sheer political rhetoric. The LGP also said that most of the states have also fallen short of GST growth targets.

The spokesman of the party said here on Saturday continuous rise in petrol/diesel prices and sharp decline in value of rupee have given enough indication about the state of bad financial condition and increasing burden on the people. Pointing out about shortfall of at least 13% collection in goods and services tax (GST) including 6% in Uttar Pradesh, the spokesman said it reflected the haphazard way of implementation of the new tax collection scheme. The spokesman said the statement of Union Finance Minister Arun Jaitely that there is no need of “panic and knee-jerk” reaction on the issue is indeed unfortunate as the NDA leaders appeared to be unconcerned about the plight of the masses. The spokesman said as the people are groaning under the heels of the problems, the NDA government has gone into hibernation. The NDA’s only effort is to deflect the attention of the people by sloganeering and false claims, the spokesman added. The spokesman further said acute sustenance problems in rural areas are not at all reflected in urban political narratives and the poor villagers are completely frustrated with the NDA government. The spokesman said the NDA government can no longer push their problems under the rug.

The spokesman said the NDA government’s claim that the fall in rupee is temporary phenomenon is misleading as the economy is not performing properly for the last four years. The spokesman said that repeated intervention of the RBI has also failed to help solve the problem which has now assumed serious dimension. The spokesman said the present situation is the result of cumulative impact of economic and financial mismanagement during the last four years. The spokesman said instead of simply blaming global factor to find an easy escape route the NDA government is required to find ways to improve the grim economic outlook.

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