Govt advisors confessed economy is in 'crisis', PM should answer: Cong

The Congress on Friday said the government's advisors have "confessed" that the country's economy is in "crisis", and demanded answers from Prime Minister Narendra Modi on the steps being taken to revive it.

Congress leader Rahul Gandhi said the government should remonetise the economy by putting money in the hands of "the needy and not the greedy".

His comments came hours after Finance Minister Nirmala Sitharaman announced several measures to boost economic growth and address distress in various sectors.

Also, Niti Aayog Vice Chairman Rajiv Kumar said on Thursday that the government was considering a number of measures which will be taken at an appropriate time to deal with financial stress in the economy.

Gandhi wrote on Twitter on Friday, "Government's own economic advisors have finally acknowledged what we cautioned for long - India's economy is in a deep mess.

"Now, accept our solution and remonetise the economy, by putting money back in the hands of the needy and not the greedy."
Taking a swipe at Sitharaman over her announcements, the Congress also tweeted from it official handle, "Essentially, the FM has back tracked on several provisions presented in her maiden budget. Only thing that remained the same: no mention of job creation then, no mention today either."
Congress general secretary Priyanka Gandhi Vadra said, "The BJP government should clearly tell the country as to why the economy is in such a bad shape."
"Business is crumbling and industries are shaking. The Rupee is weakening and jobs are disappearing. Who will make up for the losses?"
Rajasthan Chief Minister Ashok Gehlot said, "Crisis situation in Indian economy as reflected in the statement of Vice Chairman, Niti Aayog, is a matter of grave concern for the entire nation. Almost all sectors are facing problems, lakhs of people are losing jobs."
After Sitharaman's briefing, Congress spokesperson Manish Tewari tweeted, "A structural problem bedevils the fundamentals of Indian economy because of lag effect of Demonitisation/GST coupled with spectre of terror unleashed on even honest business persons juxtaposed with lack of understanding of economic issues by successive Finance Ministers of NDA/BJP."
This confession requires a slight amendment, he said, "as it is not just the financial sector, (rather) it is the Indian economy that is under stress. The current situation in the Indian economy is unprecedented, something of the sort has not been seen in the past 70 years."
The Congress also tweeted, "This no longer about fudged data and cover ups. There is a structural problem & the govt is doing nothing to fix it. The BJP must stop hiding from the facts and accept the damage done in order to save India from economic collapse."
Congress chief spokesperson, Randeep Surjewala said, "3 years after the introduction of the faulty GST, India continues to suffer massive shortfalls in revenue. If PM Modi had prioritised the economy over his sartorial choices, foreign parades and jungle photo shoots, this day would not have come."