Video: Notification and incorrect implementation of GST in economy crisis: Manmohan Singh

New delhi date. September 1, 2019, Sunday

Former Prime Minister Manmohan Singh has strongly condemned the Modi government after the country's economic growth rate dropped.

Manmohan Singh said that the government was responsible for this economic crisis and the situation was created due to lack of proper administration. The country's GDP has reached five percent. As it turns out, the country is facing a major recession. India had the ability to accelerate economic growth, but due to the mismanagement of the Modi government, the situation has worsened today.

He said that the growth rate of the manufacturing sector was only 0.6%. It is clear that the Indian economy has suffered a major blow due to the blockade. The law of misapplied GST has also had an impact on the economy.

Renowned economist Manmohan Singh further said that growth in demand for housing has been at the bottom of the last 18 months. Tax revenue has also declined. From small businessmen to industries, tax terrorism is on the rise. There is a sense of panic among investors. It seems that the economy will take a long time to recover.

He said that 3.5 lakh jobs were lost in the automobile sector alone. In the unorganized sector too large jobs are gone. There is a livelihood crisis against the workers. In rural areas, farmers are not getting their crop returns. Farmer's income is constantly declining. Farmer's claim that inflation is low is at the expense of farmers.