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
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UDF will have huge win in Kerala, NDA won't open its account: Cong leader Satheesan
Kochi (PTI): Senior Congress leader V D Satheesan on Friday expressed confidence in a huge win by the UDF, claiming it will make a clean sweep in five districts, and brushed aside speculations that the NDA will open its account in Kerala.
Satheesan, speaking to reporters here a day after the conclusion of the Assembly polls, praised the performance of the UDF leaders and workers during the election, saying it was the best ever he has seen in the last 30 years.
He said that his claims of the UDF getting over 100 seats is not a mere statement, but based on the work the front has done during the last five years to bring back all those who had left it in 2005 and as a result, there was a huge wave in its favour in the state.
The leader of opposition in the state assembly, who contested from the Paravoor constituency, further said that the Congress-led front also had a major social backing from minorities and marginalised groups in the society.
Besides that, there was an anti-incumbency feeling among the people who were disappointed with the LDF rule, he claimed and said that the UDF provided them with a hope and an alternative which no other opposition had done in the past.
"All these factors will contribute to a huge win for the UDF and it would not be surprising if we make a clean sweep in Malappuram, Wayanad, Ernakulam, Idukki and Pathanamthitta districts. That is a total of 43 seats," he said.
According to him, the polling percentage increased because the UDF got people added to the electoral list.
He also brushed aside the LDF remarks about a woman or youth CM, saying that "they can make such statements now as they know they cannot win".
"Otherwise, why did they campaign with Pinarayi Vijayan as the main factor. Why did they say a third Pinarayi rule will come?" he asked.
He also claimed that the LDF's decision to spend government money on its political campaign, by putting up hoardings and carrying out social media programmes to sway voters, has also backfired as people realised that their taxes were being wasted like that.
Asked whether the NDA will open its account, especially in areas where the UDF claimed the BJP-led front had made a deal with the LDF, Satheesan replied in the negative.
He said that as of now he does not see any chance of the NDA opening its account in the state.
