Unemployment High in India ;Dr Manmohan Singh
former Prime Minister Dr Manmohan Singh on Tuesday said unemployment is high in the country and its informal sector is in shambles following the “ill considered demonetisation decision” taken by the BJP-led government in 2016.
He also criticised the central government for not holding regular consultations with the states.
Inaugurating a development summit virtually organised by the Rajiv Gandhi Institute of Development Studies, an economic think tank aligned to the Congress ideology in poll-bound Kerala, Singh said temporary measures by the Government of India and the Reserve Bank to paper over the credit problem cannot blind us to the looming credit crisis ahead that could affect the small and medium sector.
He said in Kerala and in many other states, public finances are in disarray with states having to resort to excessive borrowing, which creates an intolerable burden on future budgets.
He said “When I presented the national budget in 1991 as Finance Minister, I quoted Victor Hugo, who had said, “Nothing is more powerful than an idea whose time has come.”
I get the feeling that the unanimity and clarity displayed by the UDF on the road ahead will lead to Kerala’s idea moment arriving this year”
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