Congress demands white paper on status of economy

New Delhi :Congress today demanded that the government come out with a White paper on the status of economy at a time when key parameters are “creating alarm”.

Despite tall claims by the Modi dispensation, exports have been continuously falling for nine months and the country was witnessing jobless growth and a stagnated GDP, party’s senior spokesman Anand Sharma told reporters.

He said a White Paper was needed as the status of economy has become a “matter of serious concern”.

“Volatility of the currency, flight of capital and trends in the market showed mismanagement of the economy” by the government, he said.

Plight of the common man was worsening due to the price rise of essential commodities, he alleged.

The Indian economy expanded by 7 per cent in the first quarter (April-June) of current fiscal. In last fiscal, the GDP growth was 7.3 per cent.

Hit by global slowdown, India’s exports contracted for the eighth straight month in July with a decline of 10.3 per cent to USD 23.13 billion.