Cong accuses Modi govt of plunging economy into 'deep crisis'

Congress today launched a blistering attack on Narendra Modi government, accusing it of plunging the country's economy into "deep crisis" and "systematically undermining" all the good work done by UPA.
Alleging that there is a "huge hiatus" between its words of deeds, Congress spokesperson Abhishek Singhvi said, "Prime Minister Modi has systematically undermined all the good work done by the previous UPA government led by Manmohan Singh.
"From destroying the various welfare schemes that empowered the poor, to profiteering from the historic low prices of crude, Modi Government is an example of how not to manage a nation's economy," he said.

"Congress would like to strongly underline the fact that the economy of this country has plunged into deep crisis under the 21 months of the Modi Government. This clueless Government has no idea how to revive it and they seem to move from one slogan and event to another without attempting to address real crisis," he said.
Taking a jibe at Modi's pet programmes like 'Make in India', 'Digital India' and 'Skill India', Singhvi said these have turned out to be "hollow slogans" to befool people by diverting their attention to unnecessary provocative statements and controversies.
"In this din, the real picture of the economy is being lost and the people of this country are bearing the brunt of #Modinomics!," the Congress leader said.

The country's GDP growth slowed to 7.3 per cent in the third quarter from a revised 7.7 per cent in the preceding September quarter, the lowest in the three quarters of this fiscal, on account of agricultural output and electricity generation recording a dip, he said.
"The Reserve Bank of India, in its monetary policy review on February 2, had noted that the current momentum of growth was below what should be expected over the medium term," Singhvi said.
The Congress spokesperson also referred to 29 state-owned banks writing off a total of Rs 1.14 lakh crore of bad debts between financial years 2013 and 2015, saying this was much more than they had done in the preceding nine years.