Cong Chintan Shivir day 2: Chidambaram says govt fuelling inflation with wrong policies, suggests a reset
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Cong Chintan Shivir day 2: Chidambaram says govt fuelling inflation with wrong policies, suggests a reset

Synopsis
Senior Congress leader P Chidambaram alleged that the government was fuelling inflation with its wrong policies. “The state of Indian economy is cause of extreme concern. A slower rate of growth has been the hallmark of the present government in the last eight years, and the post-pandemic recovery has been indifferent and halting," he said.
Govt fuelling inflation with wrong policies: P Chidambaram
Congress leader P Chidambaram during a press conference in the Congress party's 'Nav Sankalp Shivir', in Udaipur on Saturday. Congress leaders Supriya Shrinate, Prof Gourav Vallabh and Salman Anees Soz are also seen. (PTI)
NEW DELHI: Expressing "extreme concern" over the state of Indian economy, former finance minister and senior Congress leader P Chidambaram on Saturday said that inflation has risen to unacceptable levels and suggested a reset of economic policies.
Addressing a press conference on day two of Congress’s Chintan Shivir, Chidambaram alleged the government was fuelling inflation with its wrong policies. “The state of Indian economy is cause of extreme concern. A slower rate of growth has been the hallmark of the present government in the last eight years, and the post-pandemic recovery has been indifferent and halting. Inflation has risen to unacceptable levels while the government is fuelling the rise with its wrong policies,” the Congress MP said, adding external situation has added to pressures on the economy.
Chidambaram, who heads the panel on economy constituted by Congress president Sonia Gandhi to lead discussions at the ongoing three-day Chintan Shivir in Rajasthan’s Udaipur, also suggested contemplation on a reset of economic policies.
“The government appears clueless on ways to deal with these developments. Taking into account global and domestic developments, it may be necessary to contemplate a reset of economic policies. A reset of economic policies must also address the questions of rising inequalities, extreme poverty among the bottom 10 percent of the population, India's rank in the Global Hunger Index 2021 (101 out of 116 countries), and evidence of widespread nutritional deficiency among women and children," said Chidambaram, noting that the erstwhile Congress-led government had "ushered in a new era of liberalisation in 1991".
"The country had reaped enormous benefits in terms of wealth creation, new businesses and new entrepreneurs, a huge middle class, millions of jobs, exports and lifting 27 crore people out of poverty during a 10-year period," Chidambaram added.

The Congress MP also called for a comprehensive review of Centre-states fiscal relations. “States' fiscal position is fragile like never before. Time is ripe for comprehensive review of Centre-states fiscal relations,” said Chidambaram.
The consequences of the poorly-drafted and unfairly-implemented GST laws brought in by the Modi government in 2017 are there for everyone to see, the Congress leader added.
Chidambaram went on to show confidence that "our deliberations over three days and the decisions that will be taken by the Congress Working Committee (CWC) in the days and weeks ahead will make a significant contribution to the nationwide debate on the economic policies that will best serve the interests of the country and its people".
The Chintan Shivir began on Friday and its conclusions will be recorded in the form of a declaration. A draft of the declaration will be discussed at the CWC meeting on the third and last day of the conclave on Sunday.
(With inputs from agencies)
Watch Govt fuelling inflation with wrong policies: P Chidambaram
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