The economy of the country is in trouble, Rs. 89,000 crore trapped: Gadkari

Gadkari had earlier openly disclosed facts about unemployment, with the possibility of another blow to the finance minister.

Nagpur, Ta. December 22, 2019, Sunday

Many statistics have come out of the country having economic crisis, national and international agencies have also expressed concern. Now the ministers of the government themselves are also acknowledging that the country is going through an economic crisis.

This statement was made by Union Minister Nitin Gadkari. Gadkari said that around 89,000 crore rupees of the country have been trapped in many cases and the country's economic situation is in trouble. The statement was made by Union Minister Gadkari in Nagpur, where the union office is located,

He has stuck around 89 thousand crore rupees in several cases, I called the senior officials at home and said that 89 thousand crores had been trapped. I'm not telling you what to do. Let me just tell you that the country's economy is going through challenges right now.

I have told the officials that cash liquidity is low in the country, and decisions need to be taken quickly. There are reports that Nitin Gadkari's statement appears to be about the crores of rupees trapped in various important projects and the impact it has on the economy.

It is noteworthy that this statement of Union Minister Gadkari has come out at a time when prices of many commodities are expensive, GDP rate has fallen, unemployment figures have broken the 45-year record and many industrialists have been criticizing the government.

Arvind Subramanian, a former economic advisor to the government himself, has also said that the country is heading towards a dire recession. Gadkari has also spoken openly about employment issues in the past.

On the one hand, Union Finance Minister Nirmala Sitharaman is claiming that economic recovery is normal and defending the government, and some ministers are saying that economic recovery is good and that economic growth from GDP cannot be known.

Amidst all this controversy, Union Road and Transport Minister Gadkari acknowledged that the economic situation in the country is not good and is going through many difficulties. However, he did not clarify which sectors and in which projects the crores of rupees were trapped. They hinted that the money was trapped in various projects.