TMC takes on PM, lists pangs of India’s economy

Kolkata: Countering Prime Minister Narendra Modi’s claims in Parliament on Thursday that the country is on the path of economic growth, Trinamool Congress on Friday presented data saying that the Central government performed miserably with India’s account deficit hitting a record high of $36.4 billion in the July-September 2022 quarter.

“Yesterday, in a display of political theatrics, PM @narendramodi spent an agonizing 2 hours extolling the virtues of his government and the blessing it has been for the Indian economy. Here’s what he deliberately omitted: India’s account deficit hit a record high of $36.4 billion in the July-September 2022 quarter,” Trinamool Congress tweeted.

It further stated: “Unemployment rate rose to a 16-month high of 8.3% in December, 2022. The Indian rupee ended 2022 as the worst-performing Asian currency. The 3.5% decline in the Sensex in December, 2022 was the worst year-end drop since 2011. His artful manipulation of rhetoric cannot mask the reality that many Indians are grappling with, nor can it erase the legitimate concerns about the nation’s economic trajectory.”

The ruling party in Bengal trained guns on the Modi government on several other issues. “While the @narendramodi government prides itself on its supposed economic acumen, the bitter reality is that: Since the day of listing, LIC shares have never seen its initial IPO price. The company’s value has eroded by nearly Rs 2 lakh crore. LIC share price has depreciated 35% from the listing price and 40% from the upper band of the IPO price INDIA deserves better than a government that forsakes common people’s financial security to prop up crony capitalists,” Trinamool mentioned on its Twitter handle.

It also took on the Centre on the issue of the Election Commission Bill. It said: “The Election Commission Bill is a direct and calculated attack on the principles of democracy & fair play. This move undermines the transparency that was called for by the Supreme Court; disregards the Chief Justice of India’s willingness to participate in the selection process; expands government control and diminishes the scope for external input and sets a worrying precedent of other constitutional posts like the CAG & the UPSC being similarly targeted.”