Chidambaram slams government over 'economic mismanagement'
New Delhi, July 14 : Senior Congress leader P. Chidambaram on Friday slammed the government over its poor management of economy, saying inflation is at five-month high, industrial growth at five-month low and the trade deficit has soared.
Chidambaram, a former Finance Minister, said in tweets that exports were lower in June compared to May and the imports higher. He said despite the higher trade deficit, the government would continue to say that all is well.
"After 5-month-high inflation and 7-month-low industrial growth comes the news of soaring trade deficit."
"June exports lower than May. June imports higher than May. June trade deficit higher by $2 billion. But the government will say all is well," he said.
Chidambaram said the Congress leaders had estimated that demonetisation would lead to a cut in growth rate by 1.5 per cent and the outgoing Chief Economic Advisor Arvind Subramanian has said that purging high currency notes in November 2016 led to a definite slowing down of economy.
The official data showed on Thursday that retail inflation in India touched the 5 per cent-mark in June, compared to 4.87 per cent in May, even as industrial output in May grew at 3.2 per cent compared to the same month last year but declined as compared to rise of 4.9 per cent in April mainly on account of a decline in manufacturing.
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Gurupura: Bus-lorry collide near Bellibettu, drivers critically injured
6 Lakh in cash recovered during rescue operation
Bajpe: A private bus and a lorry collided head-on near Bellibettu bus stand on Wednesday, leaving both drivers seriously injured.
According to sources, the private bus was travelling from Mangaluru to Karkala and a lorry was heading towards Mangaluru.
The impact of the collision was severe, leaving the front portions of both the bus and the lorry completely crushed.
According to locals, the drivers of both vehicles were trapped inside the mangled vehicles and had to be rescued by cutting parts of the damaged vehicles using a gas cutter. Passengers travelling in the bus sustained minor injuries.
The injured drivers were shifted to a private hospital in the city for treatment. Personnel from the Bajpe police station visited the spot, conducted an inspection, and registered a case.
Meanwhile, it has been learnt that during the rescue operation, a local resident, Rafiq Gurupura, found around Rs 6 lakh in cash while cutting open parts of the bus.
The amount was subsequently handed over to the Bajpe police. The rescue operation was carried out by locals including Rafiq, Shivarama, Raoof, Fazil and others.
