8:49 PM
Opposition expresses concern over falling growth, sliding investment
Opposition in Lok Sabha on Monday expressed concern over the declining growth and falling investment and asked the government to take corrective measures to arrest the slowdown and generate employment.
Participating in the debate on the Union Budget 2020-21 in Lok Sabha, BJD member B Mahtab called for financial sector reforms to revive rapidly declining investment.
"We are measuring GDP growth... more the investment, the growth would be faster and quicker," he said, adding that adequate corrective measures were necessary to boost growth which is estimated to slip to five per cent in 2019-20.
Banks were not in a position to lend to infrastructure, Mahtab said and asked the government not to lose sight of wider reforms in the public sector.
"There is a need to bring competition within the banking sector," he said.
The NCP's Supriya Sule termed the budget as "long and tiresome" and said it has exposed the failure "of this government when it comes to fiscal health".
She said the government talks about achieving $5 trillion economy but "we are not even barely crossing five per cent (growth)".
She said the government was talking about bullet train but the fact was not even a single acre of land was acquired for the same.
"They are in a fairy-tale world... they live in a make- believe world," she said.