Economic Slowdown: Chidambaram Hits out at Centre, Says Govt Indulges in Bluff and Bluster

New Delhi: A day after getting bail in the INX Media money laundering case, former Finance Minister and Congress leader P Chidambaram trained gun at the Centre over the economic condition of the country.

Addressing a press conference today, he said the government is wrong because it’s clueless and unable to look for obvious clues as it is stubborn and mulish in defending its mistakes like demonetisation, GST, tax terrorism, regulatory overkill, protectionism and centralised control of decision-making in PMO.

“Nothing sums up state of the economy better than the following series of numbers- 8, 7, 6.6, 5.8, 5 and 4.5. Those are the quarterly growth rates of GDP in the last six quarters. The third and fourth quarters of 2019-20 are not likely to be any better”, said Chidambaram.

There is less demand among the people because they have less money and less appetite to consume due to uncertainty and fear. Unless demand increases, there will not be increased production/output or increased investment,” he added.

Making a scathing attack on Prime Minister Narendra Modi for remaining silent over the Economic Slowdown, claiming that the prime minister had left it to his ministers to “indulge in bluff and bluster”.