Tamil Nadu Congress Committee president K. Selvaperunthagai on Friday alleged the Indian economy under Prime Minister Narendra Modi’s rule is heading towards a disaster.
Mr. Selvaperunthagai said in a statement that Mr. Modi had pledged, during the run up to 2014 and 2019 Lok Sabha elections, to make India a five trillion dollar economy by 2024 with double digit growth. “However, in the last 10 years, India has not achieved what was promised by him. Now, he has been saying that steps are being taken to make India the third largest economy in the world. But the Indian economy is moving towards a disaster because of demonetisation, frauds in the banking sector to the tune of ₹90,000 crore, and accumulation of non-performing assets worth ₹24 lakh crore,” he contended.
“India stands at 138th position among other countries in terms of GDP per capita rank. There was no inclusive growth under Modi’s rule and only a few corporates have made profits. India’s position was 105 out of 127 countries in the recently released Global Hunger Index. This clearly shows that the quality of life under Modi’s rule has been deteriorating,” he added.
Published – October 19, 2024 01:07 am IST
