Congress accuses Central govt of systematic decimation of economy

New Delhi: The Congress on Tuesday accused the Modi government of systematic decimation of the economy and jeopardising the future of youths, farmers and the marginalised through its decisions.

Congress spokesperson Gaurav Vallabh demanded the government come out with a white paper on Mudra loans to ascertain in which sector there was default.

He accused the government of unleashing anarchy in the country's economy, destroying the unorganised sector and worsening the agrarian crisis. The government has "ill-treated" the farmers, who are getting less prices for their produce and are paying more for their daily needs, he said.

"As the Narendra Modi government enters its last lap, it is crystal clear that it has unleashed an economic anarchy of 'jumlanomics' and wreaked havoc in the lives of the people. It is high time that PM Modi reflect on his unwitting decisions and apologise to the people. Ninety days are now left, and the people have already made up their mind to vote out the BJP," he told reporters here.

He said the falling farm-produce prices and rising non-farm prices was causing rural distress, frauds, fake news.

"The Narendra Modi government is single-handedly responsible for destroying, damaging and demolishing the Indian economy, thereby severely jeopardising the future of youths, farmers and the marginalised. There is no doubt that the twin assaults on the economy -- demonetisation and a flawed GST -- finished jobs and completely decimated the unorganised sector," he said.

Vallabh alleged the Modi government's gross financial mismanagement was killing consumption and purchasing power, encouraging deflation, hurting exports, stagnating investments, terminating manufacturing growth and lowered the faith of the people in the banking sector.

"There are no jobs. Farmers are in extreme distress. The rural sector is anguished. The poor are suffering. The countdown for Modi government's exit has begun, even though it is trying to clutch at straws by announcing one 'jumla' after another," he said. Charging the government with dealing a severe blow to the socio-economics of the country, he said there are no jobs, the unemployment rate has increased to a 27-month high of 7.38 per cent in December 2018.

In the last one year, 1.1 crore people have lost their jobs, 3 crore people are looking for jobs and unemployment rose to a four-year high post-demonetisation.

Taking on the government over joblessness, he said while the prime minister claims there is no 'data on jobs', a report prepared by the former Niti Aayog's VC Arvind Panagariya on 'jobs data' has been "deliberately kept in the cold storage by the Modi Government" which is said to have painted a "grim picture" for job creation.

The government has also held back labour bureau's employment/unemployment report for 2016-17, he alleged, noting that HRD Minister Prakash Javadekar made an "obnoxiously bizarre remark" on the unemployment crisis.