Information and Broadcasting Minister Prakash Javedkar, dismissed former Prime Minister Manmohan Singh's criticism of the current Indian economy being "deeply worrying", on Tuesday. Manmohan Singh, in a video posted on August 30, slammed the BJP Government for "all-round mismanagement", which has led to this slowdown.
Prakash Javadekar addressed media queries and said, "We do not subscribe what Manmohan Singh has analysed. We are not only walking the talk"
"We had an economy which was 11th in the world. Now we are among the top 5 and marching towards third," the Union Minister said while addressing the media after the Union Cabinet meeting.
When asked about Government plans for stimulus package or structural reforms to boost the economy, Javdekar said that the Government's view over the Indian economy is comprehensive.
"What we are doing is, being a responsive government, addressing the issues. We have seen this during the process of GST. GST council met every month and took relevant decisions and it is now fine-tuned. That is the way how people-friendly government works, that is how we are working, we are very sure that our economy will show the performance bright as is expected and predicted," the Union Minister said.
Former Prime Minister Dr Manmohan Sigh had described the current economic situation as "deeply worrying". He also urged the government to put aside "vendetta politics". He suggested the Government reach out to experts and thinking minds to bring the economy out of this "man-made crisis".
Manmohan Singh attacked the BJP Government after the GDP growth rate was reported at 5 percent for the first quarter of the fiscal. Notably, Dr Manmohan Singh headed the Finance Ministry in the Government when the Indian economy faced a big crisis in 1991. During his tenure as Prime Minister, India also received its highest economic growth rate of 9% in 2007, and became the second-fastest growing major economy in the world. The India economy is currently facing a crisis as the country goes through its worst economic slowdown in the last 70 years. Earlier today, the Indian Rupee closed at a 10 month low against the US Dollar. The currency opened at 71.97 and touched to a low of 72.40 a dollar.
(With Inputs from ANI)