Manmohan Singh attacks BJP ahead of Budget, says economy is not in good shape

During the press conference in New Delhi, veteran Congress leader Manmohan Singh said: "Indian economy not in good shape."

Former Prime Minister Manmohan Singh and ex Finance Minister P Chidambaram on January 30 attacked the Narendra Modi-led NDA government at the Centre ahead of the Budget session.

Manmohan Singh, a former Governor of the RBI, has been critical of the Modi government’s decision to demonetise Rs 1,000 and Rs 500 notes.

“Tomorrow is the day when the government will present its economic survey. We thought it a good idea that we should also bring out a document which sets out what we consider is the real state of the economy.

“So that the country as a whole has the ways and means of assessing where the economy is, where it is heading to and what can be done to bring on the right path,” said Manmohan Singh unveiling the “Real State of Economy”, prepared by the Congress.

“Indian economy is not in good shape is now obvious. The IMF has projected that the growth rate of India this current fiscal year will not be 7.6 per cent but 6.6 percent. Several other agencies have made similar projections,” said Manmohan Singh.

Watch the highlights here:

  • Where are the jobs? Where is new capital investment? Where is credit growth?: P Chidambaram
  • There are no jobs, capital formation is declining, credit growth is the lowest in several decades: P Chidambaram
  • Yet if government presents tomorrow a rosy picture of the economy, people of India are entitled to question that: P Chidambaram
  • Every govt must be optimistic, but optimism must stem from a realistic assessment of the situation: P Chidambaram
  • NDA Govt tends to believe exaggerated version of eco,this research document is closer to truth than what Govt will say tom: P Chidambaram
  • BJP is hiding behind a GDP number which is being challenged. Ppl aren’t dazzled by it, but are asking where are the jobs?: P Chidambaram
  • All PMs& other ministrs in any govt receive repr. frm various captains of industry which is passed on to appropriate authority:Manmohan Singh
  • What I did was with full satisfaction of mine that we were not doing anything against law of the land: Manmohan Singh on Vijay Mallya
  • Its an ordinary piece of letter which any Government in my position would have dealt with: Manmohan Singh on BJP allegations