New Delhi: On the wake of what appears to be economic slowdown in the country, former Prime Minister Manmohan Singh on Sunday, in a statement in a video, said the state of the economy today was “deeply worrying”.
He said the “all-round mismanagement” by the Modi government “resulted in this slow down”, adding that last quarter’s GDP growth rate of 5% signaled that the economy was in the midst of a prolonged slowdown.
“It is particularly distressing that the manufacturing sector’s growth is tottering at 0.6%,” he said, adding, “This makes it very clear that our economy has not yet recovered from the man-made blunders of demonetisation and a hastily implemented GST.”
Mr. Singh also said that the Modi government’s policies were resulting in massive “job-less” growth. “More than 3.5 lakh jobs have been lost in the automobile sector alone. There will similarly be large scale job losses in the informal sector, hurting our most vulnerable workers,” he said in his statement.