India is being pushed towards financial emergency: Congress

Keeping up the pressure on the Modi government over the economic slump the Congress on Thursday alleged that the country was being pushed towards a financial emergency and farmers the middle class and youths were bearing the brunt of the bad policies of the governmentKeeping up the pressure on the Modigovernment over the economic slump the Congress INCIndia alleged that the country was being pushed towards a financial emergency and farmers the middle class and youths were bearing the brunt of the bad policies of the government pictwittercomo4cgNe5KlQmdash IANS Tweets ians_india September 3 2020Citing data the party said 40 crore Indians are being pushed below the poverty line as per the ILO Report and 80 lakh people were forced to withdraw Rs 30000 crore from their EPFO accounts Between April to July 2020 two crore salaried people lost their jobs In the unorganised sector 10 crore jobs were lost during the lockdown CMIEAddressing a press conference Congress Chief Spokesperson Randeep Surjewala said The economy stands destroyed as GDP has been razed and mowed down and demonetisationGSTlockdown were not master strokes but were disaster strokesThe Congress alleged that the Modi government has plundered the economy in the last six years by its acts of frauds The government now describes its criminal ineptitude and culpable incompetence as an act of God Sadly this is the only government in the past 73 years which blames God for its own frauds and bluster said SurjewalaSurjewala alleged The government is drunk with arrogance in annihilating Indias economy enterprise of the industry toiling labour of the farmers and aspirations of the youth with the sole objective to remain in power at any cost and at all costsThe party alleged that the reduction of GDP in the first quarter of FY 2021 a first since Independence will have a diabolical impact on the average income of every Indian and experts give an example of per capita income of Rs 135050 in the year 201920 Juxtapose it with the falling GDP of 24 per cent in the first Quarter April to July of 202021 The second quarter July to September will be even worse If GDP for the full year 202021 was to fall to 11 per cent it would lead to a reduction of at least Rs 14900 in the income of every IndianOn one side inflation is hitting the common man and on the other unprecedented surges in taxes and an economy in free fall has broken the back of the peopleToday India suffers from a confidence deficit in the Modi Government Ask the Micro Small amp Medium Enterprises and they will tell you that neither do the banks extend loans or financial assistance nor does the word of the Finance Minister have any meaning On the other hand banks have no faith in the government and the government has no faith in the RBI States have no faith in the Central government An atmosphere of distrust is all prevailing said SurjewalaThe party also cited the NCRB data and said 14019 unemployed people committed suicide in 2019 ie 38 unemployed people were driven to suicide every day 42480 farmers and farm labourers were also forced to commit suicide in 2019 This would mean that 116 farmers and farm Labourers committed suicide every dayKeep scrolling to read more newsCatch up on all the latest Crime National International and Hatke news here Also download the new midday Android and iOS apps to get latest updates MidDay is now on Telegram Click here to join our channel middayinfomedialtd and stay updated with the latest newsThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever