Indian economy in crisis, fiscal deficit actually at 8 pc: Congress

NEW DELHI: A day after Government data revealed that factory output shrank by 1.1 per cent in August, the Congress on Saturday hit out at the Government over economic slowdown and claimed that fiscal deficit is not at 3.3 per cent but beyond 8 per cent.

Asserting that Indian economy has moved from recession to crisis mode, senior Congress leader Anand Sharma said Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman are “oblivious” to the situation.

“Our sympathies are with the country that we have a Finance Minister who is clueless and does not understand the ‘e’ of economy or the ‘f’ of finance. Instead of addressing the grim situation confronting the Indian economy, she is blatantly allowing either patronage, promotion of crony-capitalism, huge tax cuts to richest people, no relief to poor,” Sharma said while addressing a press conference at the party office. (AGENCIES)

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