28.4 C
Delhi
Sunday, September 27, 2020

India is being pushed towards financial emergency: Congress

- Advertisement -

PMO statement a lame attempt to obfuscate truth: CongressNew Delhi, Sep 3 (IANS) Keeping up the pressure on the Modi government over the economic slump, the Congress on Thursday alleged that the country was being pushed towards a “financial emergency” and farmers, the middle class and youths were bearing the brunt of the bad policies of the government.

Citing data, the party said, “40 crore Indians are being pushed below the poverty line as per the ILO Report and 80 lakh people were forced to withdraw Rs 30,000 crore” from their EPFO accounts. Between April to July 2020, two crore salaried people lost their jobs. In the unorganised sector, 10 crore jobs were lost during the lockdown (CMIE).”

Addressing a press conference, Congress Chief Spokesperson Randeep Surjewala said, “The economy stands destroyed as GDP has been razed and mowed down and demonetisation-GST-lockdown were not master strokes but were disaster strokes.”

The Congress alleged that the Modi government has plundered the economy in the last six years by its ‘acts of frauds’. The government now describes its criminal ineptitude and culpable incompetence as an ‘act of God’. “Sadly, this is the only government in the past 73 years, which blames ‘God’ for its own frauds and bluster,” said Surjewala.

Surjewala alleged, “The government is drunk with arrogance in annihilating India’s economy, enterprise of the industry, toiling labour of the farmers and aspirations of the youth with the sole objective to remain in power at any cost and at all costs”.

The party alleged that the reduction of GDP in the first quarter of FY 2021 (a first since Independence) will have a diabolical impact on the average income of every Indian, and experts give an example of per capita income of Rs 1,35,050 in the year 2019-20. Juxtapose it with the falling GDP of -24 per cent in the first Quarter (April to July) of 2020-21. The second quarter (July to September) will be even worse. If GDP for the full year 2020-21 was to fall to -11 per cent, it would lead to a reduction of at least Rs 14,900 in the income of every Indian.

On one side, inflation is hitting the common man and on the other, unprecedented surges in taxes and an economy in free fall has broken the back of the people.

“Today, India suffers from a ‘confidence deficit’ in the Modi Government. Ask the Micro, Small & Medium Enterprises and they will tell you that neither do the banks extend loans or financial assistance nor does the word of the Finance Minister have any meaning. On the other hand, banks have no faith in the government and the government has no faith in the RBI. States have no faith in the Central government. An atmosphere of distrust is all prevailing,” said Surjewala.

The party also cited the NCRB data and said 14,019 unemployed people committed suicide in 2019, i.e. 38 unemployed people were driven to suicide every day. 42,480 farmers and farm labourers were also forced to commit suicide in 2019. This would mean that 116 farmers and farm Labourers committed suicide every day.

–IANS

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

Former Defence Minister Jaswant Singh passes away

New Delhi, Sep 27 (IANS) Former Defence Minister Jaswant Singh passed away early Sunday, said an official statement from the R&R Hospital here. He...

BJP’s oldest ally Akali Dal quits NDA over ‘black laws’

Chandigarh, Sep 26 (IANS) The highest decision making body of the Shiromani Akali Dal (SAD) core committee at its emergency meeting held here on...

Gill stars as clinical KKR thrash SRH by 7 wkts

Abu Dhabi, Sep 27 (IANS/GloFans) Opener Shubhman Gill's unbeaten 70-run knock along with Eoin Morgan's 42 not out guided Kolkata Knight Riders (KKR) to...

RBI to retain lending rates, accommodative stance, say experts

By Rohit Vaid (IANS) Persistently high inflation fanned in part due to supply side disruptions along with seasonal factors will deter the Reserve Bank...

Amazon Echo devices to automatically delete your recordings

New Delhi, Sep 27 (IANS) After launching new Alexa and Echo devices, Amazon has introduced additional privacy controls and easier ways for the customers....

Uma Bharti, Ram Madhav among key leaders dropped from BJP’s office-bearers list

New Delhi, Sep 26 (PTI) With several BJP leaders making way for fresh faces in the new list of the party''s national office-bearers announced...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

Will Govt have 80,000 crores available over the next one year?, saks Adar Poonawalla

New Delhi, Sep 26 (IANS) Rs 80,000 crore will be the cost of vaccinating everyone in India with the Covid-19 vaccine whenever it is...

Will Govt have 80,000 crores available over the next one year?, saks Adar Poonawalla

New Delhi, Sep 26 (IANS) Rs 80,000 crore will be the cost of vaccinating everyone in India with the Covid-19 vaccine whenever it is...

Centre puts price caps on medical oxygen after shortage reports

New Delhi, Sep 26 (IANS) In order to deal with shortage of medical oxygen and the resultant increase in prices in the country, the...

Huge infrastructure build-up helped India recovery rate: Dr Harsh Vardhan

New Delhi, September 26 (ANI): Union Health Minister Dr Harsh Vardhan on Friday said that huge infrastructure build-up to counter the COVID -19 situation...

Aarogya Setu loses sheen as downloads drop

New Delhi/Noida, Sep 25 (IANS) Prashant Kumar who lives in Noida sector 143 often goes to a nearby mall-cum-office complex with his family for...

PM Modi asks states to focus on micro-containment zones

New Delhi, Sep 23 (PTI) Prime Minister Narendra Modi on Wednesday asked states to reassess if lockdowns of one or two days are effective...

Trending News In India

Former Defence Minister Jaswant Singh passes away

New Delhi, Sep 27 (IANS) Former Defence Minister Jaswant Singh passed away early Sunday, said an official statement from the R&R Hospital here. He...

Self-sufficient in defence linked to ‘self-respect’, ‘sovereignty’ of country: Rajnath

New Delhi, Sep 27 (PTI) Defence Minister Rajnath Singh on Saturday said a country that depends on imports for its military equipment can never...

BJP’s oldest ally Akali Dal quits NDA over ‘black laws’

Chandigarh, Sep 26 (IANS) The highest decision making body of the Shiromani Akali Dal (SAD) core committee at its emergency meeting held here on...

NCB seizes phones of Deepika, Rakul, Simone, Karishma in drugs case

Mumbai, Sep 26 (IANS) The Narcotics Control Bureau (NCB), which quizzed Bollywood actors Rakul Preet Singh, Deepika Padukone, her former manager Karishma Prakash, and...

Gill stars as clinical KKR thrash SRH by 7 wkts

Abu Dhabi, Sep 27 (IANS/GloFans) Opener Shubhman Gill's unbeaten 70-run knock along with Eoin Morgan's 42 not out guided Kolkata Knight Riders (KKR) to...

RBI to retain lending rates, accommodative stance, say experts

By Rohit Vaid (IANS) Persistently high inflation fanned in part due to supply side disruptions along with seasonal factors will deter the Reserve Bank...

Trending Showbiz

NCB seizes phones of Deepika, Rakul, Simone, Karishma in drugs case

Mumbai, Sep 26 (IANS) The Narcotics Control Bureau (NCB), which quizzed Bollywood actors Rakul Preet Singh, Deepika Padukone, her former manager Karishma Prakash, and...

NCB quizzes Deepika, Sara, Shraddha in drug case related to SSR death

Mumbai, Sep 26 (IANS) The Narcotics Control Bureau (NCB) on Saturday questioned Bollywood divas Deepika Padukone, Sara Ali Khan, Shraddha Kapoor for several hours...

‘CBI delay in converting abetment to suicide to murder frustrating’

Mumbai, Sep 25 (IANS) Vikas Singh, family lawyer of late actor Sushant Singh Rajput, on Friday stated that the delay being by Central Bureau...

NCB questions Rakul, Deepika’s ex-manager, Dharma Productions honcho

Mumbai, Sep 25 (IANS) The Narcotics Control Bureau (NCB) on Friday is questioning Bollywood actor Rakul Preet Singh, Dharma Productions executive producer Kshitij Ravi...

Famed singer S.P. Balasubrahmanyam succumbs to Covid-19

Chennai, Sep 25 (IANS) Famed playback singer and Padma awardee S.P. Balasubrahmanyam, or popularly SPB or Balu in the movie world and who has...

WhatsApp clarifies after probe agencies retrieve chats

New Delhi, Sep 25 (IANS) The Narcotics Control Bureau (NCB) cloned the mobile phones of Rhea Chakraborty and others, which gave them access to the WhatsApp chats...

Trending Sports

Gill stars as clinical KKR thrash SRH by 7 wkts

Abu Dhabi, Sep 27 (IANS/GloFans) Opener Shubhman Gill's unbeaten 70-run knock along with Eoin Morgan's 42 not out guided Kolkata Knight Riders (KKR) to...

I am surprised Sanju Samson is not representing India in all formats, says Warne

Dubai, Sep 27 (PTI) Spin legend Shane Warne on Saturday expressed his "surprise" that wicketkeeper-batsman Sanju Samson is not playing for India across formats.Samson...

Shaw and Rabada propel Delhi to big win over Dhoni’s CSK

Dubai, Sep 26 (IANS/GloFans) In yet another dismal show, three-time IPL champions Chennai Super Kings (CSK) suffered a 44-run defeat against a charged-up Delhi Capitals (DC) here on...

KL Rahul’s record-breaking ton blows RCB away

Dubai, Sep 25 (IANS/GloFans) Captain K.L. Rahul on Thursday shattered a few IPL records with a blistering 69-ball 132 not out -- the highest individual...

Sat on bench for hours after losing in 1992 Oly quarters, reveals Paes

New Delhi, Sep 25 (IANS) Eighteen-time Grand Slam champion Leander Paes made history in 1996 when he became the first Indian tennis player to...

Ex-Australian cricketer Dean Jones dies of cardiac arrest in Mumbai

New Delhi, Sep 24 (IANS) Former Australian cricketer Dean Jones passed away in Mumbai on Thursday after suffering a cardiac arrest. The 59-year-old was...

Latest Trending News In India

Former Defence Minister Jaswant Singh passes away

New Delhi, Sep 27 (IANS) Former Defence Minister Jaswant Singh passed away early Sunday, said an official statement from the R&R Hospital here. He...

Self-sufficient in defence linked to ‘self-respect’, ‘sovereignty’ of country: Rajnath

New Delhi, Sep 27 (PTI) Defence Minister Rajnath Singh on Saturday said a country that depends on imports for its military equipment can never...

BJP’s oldest ally Akali Dal quits NDA over ‘black laws’

Chandigarh, Sep 26 (IANS) The highest decision making body of the Shiromani Akali Dal (SAD) core committee at its emergency meeting held here on...

NCB seizes phones of Deepika, Rakul, Simone, Karishma in drugs case

Mumbai, Sep 26 (IANS) The Narcotics Control Bureau (NCB), which quizzed Bollywood actors Rakul Preet Singh, Deepika Padukone, her former manager Karishma Prakash, and...

Gill stars as clinical KKR thrash SRH by 7 wkts

Abu Dhabi, Sep 27 (IANS/GloFans) Opener Shubhman Gill's unbeaten 70-run knock along with Eoin Morgan's 42 not out guided Kolkata Knight Riders (KKR) to...