Congress Slams BJP Over 'Economic Slowdown', Says Country Facing 'Financial Emergency-Like Situation'

Congress spokesperson Abhishek Singhvi said that the situation the country is facing is like that of a financial emergency.

Abhishek Manu Singhvi (Source:PTI)

 New Delhi: The Congress on Sunday accused the Bharatiya Janata Party of diverting people’s attention from its failures, and expressed concern over an “economic slowdown” of the country. The party said that the country is facing saturation akin to a “financial emergency.” Congress spokesperson Abhishek Singhvi said that what the country is facing is like that of a financial emergency. 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." He raised the issue of slowdown in automobile sector.  The trend of the slowdown in the automobile industry did not come all of a sudden. The 31 per cent fall in sales is also the ninth straight drop in monthly passenger vehicle sales, Singhvi said. "Sales have fallen in 12 out of 13 months since July 2018, underscoring the sharp slowdown in the world's fourth largest automobile market," Singhvi said at a press conference. He also raised the issues of crashing stock exchange and rising fiscal deficit. The other issues he raised are falling GDP figures, shrinking labour force, recession in real estate sector, continuous weakening of rupee, and falling foreign direct investment and foreign portfolio investment