The Reserve Bank of India did not Change the Repo Rate
The Reserve Bank of India did not change the policy rate in the monetary policy review on Thursday. The central bank has kept its stance liberal to support the economy while keeping the main rate repo at 5.15 percent. However, the central bank also reduced the estimate of gross domestic product (GDP) growth rate from more than one percent to five percent in 2019-20. Earlier in the monetary policy review released in October, this estimate was at 6.1 percent.
In the Lok Sabha, Congress leader Shashi Tharoor questioned the Modi government’s ambitious target of a $ 5,000 billion economy on Wednesday and asked the government to achieve this goal amid economic mismanagement and budgetary failure.
Shashi Tharoor also started the discussion on ‘Supplementary Demands for Grants for the year 2019-20 – first batch’ The decline in growth figures is a proof that the government has failed to manage the economy. He cited the decline in GDP and decrease in revenue, and said that the government should now reform and take the country in the right direction. should go. Tharoor said the average growth rate in the Manmohan Singh-led government was more than seven percent, but in this government it has fallen to 4.5 percent. He alleged that after the coming of this government, three crore new people came below the poverty line.
Putting a question mark on the ambitious target of the government’s economy of five thousand billion dollars, Tharoor asked what is the government’s roadmap to achieve it? The Congress leader said that the earlier finance minister made a lot of announcements in the context of the budget But the government failed to meet the target. He also claimed that unemployment has risen to 8.4 per cent during the rule of this government, the auto sector is in bad shape and all other sectors are in decline. The government’s economic mismanagement and budgetary failure are clearly visible. Referring to a GDP statement by BJP MP Nishikant Dubey, Tharoor pointed out that it should now be decided who is the biggest economist among Prime Minister Narendra Modi and Dubey. Dubey later protested that he had cited some economists in this context, saying that there is a question mark on GDP all over the world.