New Delhi: In a significant development, the Shiv Sena, an allied of NDA has taken a stand which appears to be apart from Modi led Government on current economic scenario.
Sena on Wednesday advised the Central Government to take former Prime Minister Manmohan Singh’s advice on the economy seriously.
In an editorial in its mouthpiece Saamana, the Sena said, “The reports about the Indian economy are worrying.”
One has to trust Manmohan Singh when he says that the economy is in doldrums and will collapse in future, it added.
Notable, Manmohan Singh had on September 1 said that “all-round mismanagement” by the Narendra Modi-led government was responsible for the slowdown in the economy.
He urged the government to “put aside vendetta politics” and consult “all sane voices and thinking minds” to save the economy.
Data released on August 30 showed that India’s economic growth rate had slipped to 5% in the April-June quarter, the lowest in over six years. This signals India is in the midst of a prolonged slowdown, Singh had said, adding that the country has the potential to grow at a much faster rate. He said the slowdown was a “man-made crisis”.
In yet another development, which appears to be a bad signal for Indian economy, Maruti Suzuki today announced to shut down its passenger vehicle manufacturing operations at Gurugram and Manesar plants for two days on 7th September and 9th September 2019.
Both days will be observed as no production days. Maruti Suzuki shares were trading 2.5% lower at Rs 5,900 in noon trade.
Maruti Suzuki India had cut its production by 33.99% in August, making it the seventh straight month that the country’s largest car maker reduced its output. The company produced a total of 1,11,370 units in August as against 1,68,725 units in the year-ago month, Maruti Suzuki India (MSI) said in a filing to the BSE on Monday.
The country’s largest carmaker Maruti Suzuki India on Sunday reported a nearly one-third decline in sales at 1,06,413 units in August. The company had sold 1,58,189 units in August last year.