NDA failed on governance, black money recovery plank: Cong

Congress leader says sharp fall in crude oil prices helped the Modi govt in checking inflation

The Congress today blamed the NDA government of having flunked to keep its twin promises of good governance and bringing back black money stashed abroad.

"Modi Government lacks the economic vision, fiscal direction and financial astuteness to propel India on a growth trajectory. Even senior BJP leaders and NDA partners are criticising Centre's policies," senior Congress leader and MP Gaurav Gogoi told reporters here.

The promise of retrieving black money from abroad is yet to be met, he said adding that sharp fall in international crude price has helped Modi government immensely as it contributed towards checking inflation to some extent.

Reminding that Narendra Modi came to power on promises of 'Acchhe Din', good governance, 10 per cent GDP growth and creation of 10 crore jobs in five years, Gogoi said the government's performance in last one year has been dismal and disastrous.

Even senior BJP leader and Modi's advisor, Arun Shourie has clearly adjudged the government as "lacking financial direction", the AICC Spokesman said.

Claiming that corporate and industries are losing confidence in Modi magic, Gogoi said the 'India Inc' wants NDA government to deliver rather than indulging in rhetoric.

While growth in eight core industrial sectors is down to 3.5 per cent in 2014-15, lowest since 2009, the cement industry saw zero growth in December quarter with net profit slipping by 26 per cent, the Congress leader said. Exports have fallen by over 11 per cent in 2015 as compared to last year.

In March 2015, cement industry saw a reduction in output of 4.2 per cent, while engineering companies are witnessing zero increase in sales and real estate sector is experiencing negative growth, he elaborated.

Stating that industry is facing 'tax terrorism', Gogoi alleged unchecked socially divisive agenda being practised by BJP backed rightwing groups is sending wrong signal to investors.

Claiming that employment scene was in ruins, the Congress MP said wage growth has slowed to a paltry 3.8 per cent by end of 2014.

Job growth in key labour intensive sectors like textile including apparel, leather, metals, automobiles, gems and jewellery, transport, IT, handloom and powerloom is witnessing a declining trend, he said.