Chidambaram slams the government for the status of the economy

24 Jun 2022 , 02:59 PM

P Chidambaram, a senior member of the Congress, criticized the administration on Friday for the condition of the Indian economy, questioning whether it was in “pink of health” in light of the country’s large fiscal deficit, rising inflation, and declining rupee’s value. The government’s “backsliding on the budget deficit objective for the current year,” he also questioned.

“The administration is reversing course just months after establishing the FD target at 6.4% for 2022—2023. The government is now pledging to “attempt to keep the FD at 6.7%,” the same level as in 2021—2022, the former finance minister said on Twitter.

“What do high FD, high inflation, massive FPI outflows, a weakening rupee, and dwindling foreign exchange reserves indicate? Is the Indian economy in good shape? “He inquired.

The Congress party and its leaders have criticized the government’s economic plans and charged that the BJP administration has been “mismanaging” the economy of the nation.