Citing reports of a slowdown in economic growth, Congress leader Rahul Gandhi on Saturday hit out at the Modi Government saying, “The BJP Government can’t build anything. It can only destroy what was built over decades with passion and hard work.”
Rahul tagged some media reports on L&T chairman’s warning of an economic slowdown, BSNL and MTNL failing to pay July salaries, the railways planning to hive off employees and the auto sector witnessing lowest ever sales in July in over two decades.
He also pointed to newspaper reports, highlighting weakness in several key sectors and expert commentary on the present state of economy.
Congress leader’s hit on the BJP Government comes when India has slipped two spots and lost its place as the fifth-largest economy in the world. India has now come down to the seventh spot as the UK and France overtook it.
Experts say several core sectors have been witnessing a sharp slowdown due to lower consumer demand and lack of lending to companies. Real estate sector has been affected by the slow down with inventory of houses left unsold with the builders.
Top company executives have cautioned the Government regarding the slowdown and requested it to take quick steps to reduce the crisis.
The slump in economic growth has also affected Indian stock markets as it has lost a massive amount of investments from Foreign Portfolio Investors.