Udaipur(PTI): Asserting that the state of the economy is a cause of "extreme concern", senior Congress leader P Chidambaram on Saturday said taking into account global and domestic developments, it may be necessary to contemplate a reset of economic policies.

Addressing a press conference, Chidambaram said a slower rate of growth has been the "hallmark" of the present government in the last eight years, and the post-pandemic recovery has been "indifferent and halting".

Chidambaram, who heads the panel on economy constituted by Congress president Sonia Gandhi to lead discussions at the three-day 'Chintan Shivir' here, also said the time is ripe for a comprehensive review of fiscal relations between the Centre and the States.

The consequences of the poorly drafted and unfairly implemented GST laws brought in by the Modi government in 2017 are there for everyone to see, the Congress leader said.

"The States' fiscal position is fragile like never before and needs urgent remedial measures," said the former finance minister, flanked by some other members of the panel such as Gourav Vallabh and Supriya Shrinate.

Noting that the Congress-led government ushered in a new era of liberalisation in 1991, Chidambaram said the country has reaped enormous benefits in terms of wealth creation, new businesses and new entrepreneurs, a huge middle class, millions of jobs, exports and lifting 27 crore people out of poverty during a 10-year period.

"After 30 years, it is felt that taking into account global and domestic developments, it may be necessary to contemplate a reset of the economic policies.

"A reset of economic policies must also address the questions of rising inequalities, extreme poverty among the bottom 10 per cent of the population, India's rank in the Global Hunger Index 2021 (101 out of 116 countries), and evidence of widespread nutritional deficiency among women and children," he said.

The external situation has added to the pressures on the economy, he noted. "The government appears clueless on the ways to deal with these developments," he added.

Chidambaram further said, "I am confident that our deliberations over three days and the decisions that will be taken by the CWC in the days and weeks ahead will make a significant contribution to the nationwide debate on the economic policies that will best serve the interests of the country and its people."

The discussions at the 'Chintan Shivir', which began on Friday, will continue on the second and third day as well and the conclusions will be recorded in the form of a declaration. A draft of the declaration will be discussed at the Congress Working Committee (CWC) meeting to be held here on the third and last day of the conclave.

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Bengaluru (PTI): Senior politician Basavaraj Horatti, who recently resigned as the Chairman of Karnataka Legislative Council and MLC, on Wednesday joined the BJP.

He joined the party in the presence of Chief Minister Basavaraj Bommai, former Chief Minister Jagadish Shettar, BJP national General Secretary C T Ravi, Ministers R Ashoka, Govind Karjol, C C Patil among others.

"Basavaraj Horatti has been a member of the Legislative Council for nearly 45 years and has served as its Chairman and Minister. He is a leader with lot of experience, commands a lot of respect and has been working for the cause of teachers. After deciding to join BJP he met Union Home Minister Amit Shah and resigned from his post and has officially joined the party today," Bommai said.

Speaking to reporters after welcoming the senior leader, he said, BJP is organising a huge programme in Hubballi shortly, to mark his induction into the party.

"His joining has strengthened the party. No one has the record of being an MLC for such a long time in the entire country. It has strengthened the party especially in the north Karnataka region. We will use his experience and will give him all the opportunities and respects he deserves," he added.

With this, Horatti, who has been elected as MLC seven successive times from 1980, has ended his long association with the JD(S).

He is likely to be fielded as the BJP's candidate for the upcoming MLC polls from West Teachers' constituency. Considered to be the senior-most MLC, the 76-year-old was seen as a prominent Lingayat face of the JD(S) from north Karnataka.

He had been education minister in the state, and was elected as the Chairman of the Legislative Council in February 2021.