Government Doesn’t Subscribe To Manmohan Singh’s Views On Handling Of Economy: Prakash Javadekar
The government on Tuesday rebuffed former Prime Minister Manmohan Singh’s views on its handling of the Indian economy, saying the country has become the become the fifth largest economy in the world from 11th during his time.
Singh, one of the architects of India’s economic liberalisation in 1991, said Sunday that the state of the Indian economy was "deeply worrying" and urged the government to put aside "vendetta politics" and reach out to sane voices and thinking minds to steer the economy out of this "man-made crisis".
"We do not subscribe to what Manmohan Singh has analysed... India was 11th (largest) economy of the world. Now it is the fifth and we are marching to be third," Information & Broadcasting Minister Prakash Javadekar said.
India’s GDP growth rate fell to a six-year-low of 5 percent in April-June 2019, sparking fears of a slowdown, but Javadekar said the government was not looking at the economy in a piecemeal manner and has a comprehensive view.
"What we are doing is, being a responsive government, addressing the issues. and we have seen this process in Goods and Service Tax also. The GST Council met every month and took relevant decisions and it is now fine-tuned. So, that is the way how a people-friendly government works and that is how we are working," he said.
Finance Minister Nirmala Sitharaman has over the past couple of weeks announced a slew of measures to push up economic growth. On Friday, she spelt out a plan to merge 10 public sector banks into four with an aim to catalyse credit, necessary for making India a $5-trillion economy by 2024.