Chidambaram Targets PM Modi Over State Of Economy, Voices For ‘Reset Of Policies'

The former finance minister said the time is ripe for a comprehensive review of fiscal relations between the Centre and the States

Senior Congress leader P Chidambaram

Source : Getty

New Delhi: Senior Congress leader P Chidambaram on Saturday raised concerns over state of the economy saying it may be necessary to contemplate a reset of economic policies considering global and domestic developments.

Hitting out at the Narendra Modi-led government, Chidambaram said slower rate of growth has been the ‘hallmark’ of the government in the last eight years, and the post-pandemic recovery has been "indifferent and halting", according to the PTI news agency report.

What are the Congress leader observations on economy?

The former finance minister said the time is ripe for a comprehensive review of fiscal relations between the Centre and the States. Chidambaram is tasked to head the panel on economy constituted by Congress president Sonia Gandhi for discussions at the three-day 'Chintan Shivir' in Udaipur.

He also pointed out at the consequences of the poorly drafted and unfairly implemented GST laws by the Modi government in 2017, said the Congress leader .

Stressing that the States' fiscal position is fragile like never before, the former finance minister said there is a need for urgent remedial measures. "A reset of economic policies must also address the questions of rising inequalities, extreme poverty among the bottom 10 per cent of the population, India's rank in the Global Hunger Index 2021 (101 out of 116 countries), and evidence of widespread nutritional deficiency among women and children," he said.

The external situation has added to the pressures on the economy, he noted. "The government appears clueless on the ways to deal with these developments," he added.

Chidambaram also expressed confidence that deliberations over three days 'Chintan Shivir', and the decisions that will be taken by the CWC in the days and weeks ahead will make a significant contribution to the nationwide debate on the economic policies that will best serve the interests of the country and its people."