Former Prime Minister Manmohan Singh, in an exclusive interview to news agency PTI, said that Prime Minister Narendra Modi’s five-year rule has ended up being the most traumatic and devastating for India’s youth, farmers, traders, businesses and every democratic institution.
Condemning the current government for its failure to strengthen the economy, Singh said that he had no qualms in saying that Modi Government has left the economy in dire straits.
“Given that the extraordinary majority the Modi Government enjoyed in the Parliament, they could have used their political capital to reap benefits for India on the economic front. Unfortunately they have fallen flat. Finance Ministry’s latest monthly report now reflects that the country is headed for a slowdown and has revised the GDP growth figures for this quarter (January April) to just 6.5%. The declining growth of private consumption, tepid increase in fixed investment and muted exports are the key factors which have led to this situation,” Singh said.
“There are no jobs. Modiji promised 2 crore jobs per year, but snatched away 4 crore jobs from our youth and imperiled their future. Unwitting and ill-conceived decisions of demonetisation and a flawed GST, coupled with tax terrorism, have dealt a body blow to both organized and unorganized sectors. Small, medium and micro enterprises are reeling under the adverse and painful effects of the double whammy of demonetisation and GST,” he added.
He further said that NYAY (minimum income guarantee scheme as promised by the Congress) will help bring economy back to life.
“At a time when private investment and industrial production are low, NYAY can help bring our economy come back to life and create new factories and jobs. Just as we brought the Right to Work under MGNREGA, I am confident that a Congress party-led government in 2019 will implement NYAY successfully and usher in a new model for social welfare and prudent economics,” he said.
The former Prime Minister called Modi’s policy on Pakistan “slipshod” and “marred by a series of flip-flops.”
“Let’s not forget that Narendra Modi’s slipshod policy on Pakistan has been marred by a series of flip-flops — from going to Pakistan uninvited to inviting the rogue ISI to investigate the Pathankot Air Base terror attack. Does it not speak volumes about the strategic failures of Modi Government on National Security front?” he said.