yelige bantu achedina - Govt's $5 trillion economy will remain a pipe dream if slowdown continues: Manmohan Singh
- 5 years ago
Former Prime Minister Manmohan Singh on Thursday said there was no hope of Modi government's promise of USD 5 trillion economy becoming a reality if growth kept going down the way it has for the last five quarters.
Addressing Congress leaders at a meeting here, he said that at least one million people may lose their jobs if a stimulus package is not given to the auto sector, which is crying for aid, and investment in the private sector is not promoted.
"The country today is in the midst of a dangerously protracted slowdown. And this is something which is not the statement being made only by the Congress party people but everywhere whether you talk to people in the industry, journalists -- the common theme is that the economy is going from bad to worse.
"The dangerous thing about the present situation is that the government is complacent enough to not realise that we are in the midst of a protracted economic slowdown," the former prime minister said.
Addressing Congress leaders at a meeting here, he said that at least one million people may lose their jobs if a stimulus package is not given to the auto sector, which is crying for aid, and investment in the private sector is not promoted.
"The country today is in the midst of a dangerously protracted slowdown. And this is something which is not the statement being made only by the Congress party people but everywhere whether you talk to people in the industry, journalists -- the common theme is that the economy is going from bad to worse.
"The dangerous thing about the present situation is that the government is complacent enough to not realise that we are in the midst of a protracted economic slowdown," the former prime minister said.