After GDP numbers' realease, Subramanian Swamy says ''Can't reach 5 trillion economy target"
New Delhi: BJP leader Subramanian Swamy on Saturday said that the country may not reach its target of being a $5-trillion economy if “no new economic policy is forthcoming”. Swamy’s comments followed the news of India’s Gross Domestic Product growth falling to 5% in the April-June quarter – the fourth straight quarter of slower growth and the slowest growth in over six years.
“Neither boldness alone or knowledge alone can save the economy from a crash,” Swamy tweeted. “It needs both. Today we have neither.”
The government adopted a slew of measures to control the economic slowdown in the last few weeks. Finance Minister Nirmala Sitharaman on Friday announced that 10 public sector banks would be merged into four entities. The announcement came a week after she unveiled a slew of measures to revive economic growth.
Last week, Sitharaman had announced a set of measures to prop up the economy, less than two months after presenting the Union Budget. The Reserve Bank of India had also announced last week that it would give the Centre Rs 1.76 lakh crore of its dividend and surplus reserves.
In the last few months, core sectors such as automobiles, manufacturing and real estate, witnessed a progressive slowdown in growth due to weakened consumer demand and dearth of investments. Chief Economic Adviser KV Subramanian on Friday attributed the slowdown in the growth of Gross Domestic Product to domestic and global factors. He added that the government was taking steps to improve the situation.
courtesy: scroll.in
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
UP Cong chief Ajay Rai hospitalised after fainting, stable
Lucknow (PTI): Uttar Pradesh Congress president Ajay Rai was hospitalised here after he fell unconscious due to low sodium levels, party leaders said on Saturday.
They said he was admitted to Medanta Hospital on Friday evening and is stable.
"Ajay Rai was admitted to Medanta Hospital in Lucknow at around 6 pm on Friday after he fell unconscious as his sodium levels had dropped. He fell unconscious at his residence in Lucknow. For the entire day, he was engaged in party programmes and had also gone to the airport," Uttar Pradesh Congress spokesperson Anshu Awasthi told PTI.
Congress in-charge of Uttar Pradesh Avinash Pande told PTI, "Now, he (Ajay Rai) is stable and I am also reaching Lucknow."
Medanta Hospital Director Dr Rakesh Kapoor told PTI that Rai collapsed at his home on Friday evening and was subsequently admitted to the hospital's emergency ward.
Medical examinations revealed that Rai was suffering from a sodium deficiency and elevated blood pressure. Doctors administered immediate treatment and he is doing significantly better now, Kapoor said.
A team of doctors is monitoring his health. Rai is conversing with others and his condition is stable, he added.
In a post on X late Friday night, Prime Minister Narendra Modi wished Rai a speedy recovery.
Rai hails from Varanasi and had contested the 2024 Lok Sabha elections against Modi from the parliamentary constituency. The Congress appointed him as the Uttar Pradesh unit chief in 2023.
