New Delhi: Expressing concern over what it called the “slowdown” of the economy, the Congress on Sunday said the country is facing a situation like that of a “financial emergency”.
Accusing the BJP of diverting the people’s attention from its failures, Congress spokesperson Abhishek Manu Singhvi raised issues like slowdown in automobile sector, crashing stock exchange and rising fiscal deficit, falling GDP figures, shrinking labour force, recession in real estate sector, continuous weakening of rupee, and falling foreign direct investment and foreign portfolio investment.
As reported by NDTV, criticising the Narendra Modi government, he said, “Ironically, if one looks at between Modi 1 (government) beginning and Modi 2, he or she shall figure that has been a regression in progress.”
Mr Singhvi further said that when PM Modi assumed office, the rupee was at 58.7 against the US dollar, “However now rupee has further devalued. One US Dollar has reached Rs. 71 and is anticipated to cross Rs. 72 limit in the coming weeks,” he said.