Former chief economic advisor speaks up against Modi's decisions

Kolkata: Kaushik Basu, the former chief economic advisor to the government of India, on Monday voiced his protest against the Modi government for its various moves, including demonetisation.

Basu attended the 63rd convocation of Jadavpur University (JU) on Monday. He later told media that India's gross domestic product (GDP) growth rate has slowed down in recent times, due to distress in some sectors. He also warned that the consequences of the economic slowdown could have a far reaching implication. "The slowdown may continue for six months to one year and the people in villages must be paid attention to," Basu maintained.

Basu, the former World Bank chief economist, said distress has been "very much visible in the agriculture sector", as the "condition of farmers is bad". He also said the agriculture sector is still feeling the effects of demonetisation. Many other sectors have also been affected due to the same. This has resulted in a decrease in job creation and is a cause for concern.

Governor Keshari Nath Tripathi, who also attended the event, asked the university authorities to be alert and keep a tab on what is happening inside the campus when the classes are over. He stressed on the importance of maintaining the right environment for studying inside the institution.