The ruling government has failed to create jobs, he said
Former Prime Minister Manmohan Singh on Tuesday said the Narendra Modi government had failed to create jobs. “The economy is running on just one engine of public spending and investment by the private sector has collapsed,” he said.
Speaking at the Congress Working Committee (CWC) meeting chaired by party president Sonia Gandhi in Delhi to discuss the current political situation and the roadmap for the upcoming presidential poll, Singh blamed the downturn on the government’s decision to demonetise two high-volume currencies last November.
According to data released by the Central Statistics Office (CSO) on May 31, the Gross Domestic Product in the January-March quarter grew at the slowest at 6.1 percent against 7.0 percent growth in October-December.
Chief Statistician TCA Anant had also said demonetisation had become the major element impacting GDP.
Earlier, opposition leaders like West Bengal Chief Minister Mamata Banerjee and Kerala Chief Minister Pinarayi Vijayan had also denounced the note ban decision saying it would lead to job losses and decline in productivity.