Cong to protest nationwide from Nov 5 to highlight ill-effects of current state of economy: Ajay Maken

Congress party will organise protests across the country from November 5 to 15 on the prevailing state of Indian economy, said senior party leader Ajay Maken here on Friday.

Addressing media persons, Maken said: "We will go to the public and communicate to them the ill-effects of the current economic slowdown."

Indian household debt has doubled since demonetisation and as per the RBI statistics, per household saving is the lowest in the last 20 years, said Maken.

Maken further alleged that the Life Insurance Corporation (LIC) has made investments worth Rs 10.70 lakh crore under pressure from the government.

"The government has also taken away the reserves of the RBI worth Rs 3.90 lakh crore," he said.

"Moreover, the unemployment is the highest ever and 15 per cent PhD holders are also unemployed," he added.

Maken also criticised the Central government's move to enter into free trade agreements with 15 nations under the Regional Comprehensive Economic Partnership (RCEP), stating the move will have negative effects on the economy.