Economy in shambles: Cong

Economy in shambles: Cong

Agency News

New Delhi, Aug 18 : Congress on Sunday attacked the Centre saying the government was "doing nothing'' about the economy which was in a shambles.

''The economy is in shambles and the government is doing nothing but fiddling, looking left, right and centre, not even policy solutions, much less implementation,'' Congress spokesperson Abhishek Manu Singhvi said.

Listing ten failures of the economy, he said automobile sales had declined of 31 per cent till July from a year ago. He said in cars alone there was a 23 per cent drop, 12 per cent for two-wheelers and 14 per cent for tractors.

Singhvi then mentioned the crash in the stock market where the BSE dipped 5 per cent, midcap and smallcap by 8 per cent and the Nifty by 10 per cent.

He said third failure was ''rising fiscal deficit deceiving figures''. Falling GDP figures was the fourth. Shrinking labour force, recession in the real estate sector, weakening Rupee, falling foreign direct investments and foreign portfolio investors pulling out money was the last, Singhvi added.(UNI)