Thursday 5 December 2019 4:56 AM UTC
New Delhi Dec 5: The Opposition on Wednesday attacked the government in Lok Sabha over slowdown in the economy. Many opposition members expressed concern over slippages on the fiscal front.
Participating in the debate on Supplementary Demands for Grants, Congress MP Shashi Tharoor said that the manufacturing growth has come down to average of 3 per cent in the last five years.
Automobile is one of most affected segments, he said, adding it has posted worst figures in the last two decades.
Besides, he said, the consumer spending has also come down.
“We have seen decline in consumption… including of essential food items,” he said.
He said that the Centre has a “dismal record of budgetary failure” and in the present scenario there is a possibility of fiscal slippages.
The government revised the fiscal deficit target to 3.3 per cent, he said, adding every year the government made commitments and failed to meet them.
“You will see slippages in fiscal deficit this year,” he said.
He also asked about the government’s roadmap for its vision of making India a five trillion dollars economy.
The national rural poverty has risen and 30 million people have fallen below India’s official poverty line, Mr Tharoor said.
During the debate, Vinayak Raut (Shiv Sena) said unemployment is on the rise, the farmers are in distress and traders are unhappy.
He claimed that the Mudra scheme to provide loans to marginal sections of the society has the maximum number of non-performing assets.
Mr Raut said people should benefit from such schemes and they should not remain on paper. – PTI
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