At the party Plenary session, former PM Manmohan and Chidambaram launch scathing attack on NDA govt’s ‘mismanagement of the economy’
The Congress on Sunday assailed Modi government for squandering golden opportunity to catapult India's economy and called for rescuing the country from incompetent economic managers for the sake of achieving sustained economic growth.
Coupled with an absolute majority in the Lok Sabha, the party said, the current government had inherited a macro-economic stability, low oil prices (from over $100 to under $40 per barrel) and the robust global economic growth, which was wasted due to misadventures and "reckless and bizarre policies" such as demonetization of high-value currency and "hasty imposition of a flawed" goods and services tax (GST).
A resolution adopted at the party's 84th plenary session sought for a simpler GST framework with a moderate and reasonable standard rate of tax, abolition of cesses outside the GST structure, a transparent mechanism for revenue sharing with the states, and a robust system of refunds.
The resolution, drafted by a sub-group headed by former Finance Minister P Chidambaram, said sustained economic growth is the path towards becoming a middle-income developed country.
It also charged Modi government of discriminating among states, based on the political affiliation of the governing party. It also assailed the government for distorted the concept and use of Aadhaar; instead of being an instrument of empowerment, it has been turned into an intrusive instrument of control and, in many cases, of exclusion of the very poor.
Expressing anguish at the state of agriculture and prevailing agrarian distress, the resolution noted that growth in this section is anaemic 2.7 percent compared to 4 percent during the entire 10 years of UPA. The resolution also noted that exports have fallen from $314 billion in 2013-14 to $275 billion in 2016-17, a total decline of nearly 13 per cent. This is resulting in a severe jobs crisis. Further, the resolution stated that expenditure on education and health has fallen from Rs 75,000 crore in 2013-14 to about Rs 55,000 crore in 2017-18.
The party identified big seven challenges for the nation in the coming decades namely generating productive jobs, providing high quality education, healthcare and social safety, evolving a balanced labour policy to promote growth and productivity, managing agrarian distress and improving agricultural productivity, restoring robust credit growth, promoting new investments and reviving manufacturing and facilitating steady growth in exports that will increase India's share of global trade.
To overcome these challenges, the party said its doctrine will rest on ensuring providing equal economic opportunities without the fear of economic oppression, tax terrorism and overbearing regulation, focus on the needs and aspirations of the poor and the middle class, ensure large investments by the state in education, healthcare and social safety nets and to provide a conducive social and policy climate to foster business confidence, reward risk-taking and promote employment with security. Also to focus on human development indicators along with economic indicators.
BIG 7 CHALLENGES
- Congress’ plenary session identified big seven challenges for the nation in the coming decades.
- These include generating of jobs, providing quality education, healthcare & social safety nets and managing agrarian distress.
- To overcome these challenges, the party said its doctrine will rest on ensuring providing of equal economic opportunities without the fear of oppression and tax terrorism.
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