Congress chief Mallikarjun Kharge on Thursday referred to the 1991 landmark liberalisation budget to say India urgently needed an impactful second-generation economic reforms, but an “inherent inertia” has set in the Narendra Modi government in the past 11 years.He alleged that due to the “disastrous economic policies” of the Modi dispensation, “which lacks both vision and action”, the economy is reeling at a sub-par growth rate.
“Inequality has widened, wage growth has miserably stagnated, household savings are getting depleted, youth do not have jobs, the middle class and poor are being robbed to help cronies, and we are facing a trade war, which would hurt both our agriculture and manufacturing sectors,” Kharge alleged.
“Thanks to the disastrous economic policies of the Modi government, which lacks both vision and action,” he said.
On the 34th anniversary of the presentation of the budget by then finance minister Manmohan Singh that ushered in economic liberalisation, Kharge said the 1991 budget was a “pivotal moment” for India, ushering in significant changes for the nation and its citizens.