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State of the economy cause of 'extreme concern', says P Chidambaram

Chidambaram said a slower rate of growth has been the "hallmark" of the present government in the last eight years, and the post-pandemic recovery has been "indifferent and halting".

Topics
Congress | P Chidambaram | Indian Economy

Press Trust of India  |  Udaipur 

P Chidambram
Senior Congress leader P Chidambaram (Photo: Dalip Kumar)

Asserting that the state of the economy is a cause of "extreme concern", senior leader on Saturday said taking into account global and domestic developments, it may be necessary to contemplate a reset of economic policies.

Addressing a press conference, Chidambaram said a slower rate of growth has been the "hallmark" of the present government in the last eight years, and the post-pandemic recovery has been "indifferent and halting".

Chidambaram, who heads the panel on economy constituted by president Sonia Gandhi to lead discussions at the three-day 'Chintan Shivir' here, also said the time is ripe for a comprehensive review of fiscal relations between the Centre and the States.

The consequences of the poorly-drafted and unfairly-implemented GST laws brought in by the Modi government in 2017 are there for everyone to see, the leader said.

"The States' fiscal position is fragile like never before and needs urgent remedial measures," said the former finance minister, flanked by some other members of the panel such as Gourav Vallabh and Supriya Shrinate.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sat, May 14 2022. 11:20 IST
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