Modi government has pushed economy in dire straits: Congress
New Delhi, Aug 26 : The Congress on Sunday said that the Narendra Modi government had upturned a rising economy and left it in "dire straits" with its "ad hoc and myopic economic policies".
"Dear Arun Jaitley, Congress governments (2004-2104) delivered the highest decadal growth of 8.13 per cent at factor-cost since Independence. Under Modi government, GDP growth in 2017-18 is just 6.7 per cent, which is a four-year low. In July 2018, IMF itself lowered our growth projections," Congress Spokesman Randeep Singh Surjewala said in a series of tweets.
"Jaitley ji should know that Modi government had inherited an economy that was on the upswing. But due to BJP's ad hoc and myopic economic policies -- demonetisation, flawed implementation of GST and tax terrorism -- that momentum was lost," he added.
Surjewala's tweets came in response to a post on social media by Finance Minister Arun Jaitley who said that it was only with NDA coming to power in 2014 that the economy had undergone a transformational change.
In his post, Jaitley said that a comparison of the data released in 2014 and 2018 proved that high inflation, fiscal deficit and current account deficit, besides a standstill in the infrastructure and power sectors, as well as in allocation of natural resources, were some of the failures of the previous UPA government.
"We have come a long way. The last four years have seen a series of reforms, both legislative and otherwise, which have been carried on by the government. The system has been substantially cleaned up and made more transparent," Jaitley posted on Facebook.
However, Surjewala said that certain parameters showed a downward trend in economy and that "no amount of whitewashing" could change those facts.
"Gross Fixed Capital Formation as a percentage of GDP was 34.3 per cent in 2011-12. Even in 2013-14 it was 31.3 per cent. In the last three years, it has remained constant at 28.5 per cent and has impacted growth. No amount of white washing or blog writing can increase that," Surjewala said.
He said that the manner in which the Modi government had sought to "supress the 'back series' of GDP" and attempted to "distort" them through "spins", was now out in the open.
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What is Iran’s 10-point plan? Key demands ahead of US talks in Islamabad
Tehran/Islamabad: Iran has outlined a 10-point plan as the basis for upcoming talks with the United States, expected to begin in Islamabad on April 11, according to a statement from the Iranian Supreme National Security Council.
The plan lays out Tehran’s key political, military and economic demands, and is being seen as a framework for negotiations following the recent escalation in the region.
Strait of Hormuz at the centre
A major focus of the plan is the Strait of Hormuz, a critical global shipping route. Iran has proposed “controlled passage through the Strait of Hormuz in coordination with the Iranian armed forces,” which it says would give the country a unique economic and geopolitical position.
The plan also calls for the “establishment of a safe transit protocol” in the Strait that would guarantee Iran’s dominance under an agreed mechanism.
Call to end conflict
Iran has demanded “the necessity of ending the war against all elements of the axis of resistance,” signalling its expectation that hostilities should stop not only in Iran but also involving allied groups in the region.
US troop withdrawal
Another key demand is the “withdrawal of US combat forces from all bases and deployment points in the region,” indicating Tehran’s long-standing position against American military presence in West Asia.
Sanctions relief and compensation
The plan places strong emphasis on economic measures. It calls for “full payment of Iran’s damages according to estimates,” along with “the lifting of all primary and secondary sanctions and resolutions of the Board of Governors and the Security Council.”
It also seeks “the release of all Iranian assets and properties frozen abroad,” which have been a major point of contention for years.
Binding global guarantee
Finally, Iran has demanded that all these terms be formally recognised through “a binding Security Council resolution,” suggesting it wants international legal backing to ensure enforcement.
What this means
The 10-point plan reflects Iran’s broader push for security guarantees, economic relief and regional influence. The upcoming talks in Islamabad are expected to test how far both sides are willing to negotiate on these demands.
