The Congress on Friday termed the corporate tax cut a "panic reaction" by the government and linked it to the 'Howdy Modi' event in Houston, with Rahul Gandhi saying he is amazed at what Narendra Modi can do for a "stock market bump" before the diaspora programme.
The opposition party also claimed that the Modi 2.0 dispensation has turned out to be an "economic and political disaster" and "constant rollbacks" of economic decisions will lead to worsening of the economic situation.
Congress' chief spokesperson Randeep Surjewala said the latest announcement by BJP government slashing corporate tax worth Rs 1,45,000 crore a year is another "panic reaction to tide over choppy sensex index, but its implications and substantive issues need to be answered by the Prime Minister and the Finance Minister not through event management but sound economic management".
"This government's path is event management and economic mismanagement. Due to this path, clouds of economic slowdown are hovering over the country. The BJP government is now recognised by slowdown and lockdown," he said.
Questioning the timing of the corporate tax cut announcement, the opposition party alleged that it has been dictated by Modi's 'HowdyModi' event in the United States.
Terming 'HowdyModi' the "world's most expensive event ever", Rahul Gandhi said he is "amazed" at what Prime Minister Modi is ready to do for a stock market bump ahead of the US event.
"Amazing what PM is ready to do for a stock market bump during his Howdy Indian Economy jamboree. At + 1.4 Lakh Crore Rs. the Houston event is the world's most expensive event, ever! But, no event can hide the reality of the economic mess 'HowdyModi' has driven India into (sic)," Gandhi said on Twitter.
The Congress party said on its official Twitter handle, "The constant rollbacks and erratic decisions taken by this government may give the impression of progress through stock market bumps but will further decrease investor confidence and lead to worsening of the economic situation in the country."
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