{"id":314809,"date":"2019-09-01T08:52:12","date_gmt":"2019-09-01T08:52:12","guid":{"rendered":"http:\/\/tehelka.com\/?p=314809"},"modified":"2019-09-01T08:52:12","modified_gmt":"2019-09-01T08:52:12","slug":"manmohan-singh-says-all-round-mismanagement-by-government-resulted-in-slowdown","status":"publish","type":"post","link":"https:\/\/tehelka.com\/manmohan-singh-says-all-round-mismanagement-by-government-resulted-in-slowdown\/","title":{"rendered":"Manmohan Singh says \u2018all-round mismanagement by government\u2019 resulted in slowdown"},"content":{"rendered":"<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-314810 aligncenter\" src=\"http:\/\/tehelka.com\/wp-content\/uploads\/2019\/09\/manmohan.jpg\" alt=\"\" width=\"768\" height=\"531\" srcset=\"https:\/\/tehelka.com\/media\/2019\/09\/manmohan.jpg 768w, https:\/\/tehelka.com\/media\/2019\/09\/manmohan-300x207.jpg 300w, https:\/\/tehelka.com\/media\/2019\/09\/manmohan-100x70.jpg 100w, https:\/\/tehelka.com\/media\/2019\/09\/manmohan-218x150.jpg 218w, https:\/\/tehelka.com\/media\/2019\/09\/manmohan-696x481.jpg 696w, https:\/\/tehelka.com\/media\/2019\/09\/manmohan-607x420.jpg 607w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>Former Prime Minister Manmohan Singh on Sunday said the state of economy is deeply worrying, adding to it he said, all round mismanagement by Modi govt has resulted in this slowdown.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">Last quarter&#8217;s GDP growth rate of 5% signals that were in midst of a prolonged slowdown, he added.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">Our economy has not recovered from the man-made blunders of demonetisation and a hastily implemented GST, Singh said in a statement.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">As per the data released on Friday, India&#8217;s quarterly GDP stood at 5 per cent as compared to 5.8 per cent in the last quarter of the financial year.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">&#8220;India cannot afford to continue down this path. Therefore, I urge the government to put aside vendetta politics and reach out to all sane voices and thinking minds, to steer our economy out of this man-made crisis,&#8221; Singh said.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">The Congress leader said over 3.5 lakh jobs have been lost in the automobile sector alone and he claimed similar large-scale job losses in the informal sector.<\/span><\/p>\n<p style=\"font-weight: 400; text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">He further said domestic demand is depressed and consumption growth has hit an 18-month low. Nominal GDP growth is at a 15-year low. \u201cThere is a gaping hole in tax revenues. Tax buoyancy remains elusive as businessmen, small and big, are hounded and tax terrorism continues unabated. Investor sentiments are in doldrums. These are not the foundations for economic recovery,\u201d he added.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former Prime Minister Manmohan Singh on Sunday said the state of economy is deeply worrying, adding to it he said, all round mismanagement by Modi govt has resulted in this slowdown. Last quarter&#8217;s GDP growth rate of 5% signals that were in midst of a prolonged slowdown, he added. Our economy has not recovered from [&hellip;]<\/p>\n","protected":false},"author":59,"featured_media":314810,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[857],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/314809"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=314809"}],"version-history":[{"count":1,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/314809\/revisions"}],"predecessor-version":[{"id":314811,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/314809\/revisions\/314811"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media\/314810"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=314809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=314809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=314809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}