Senior Congress leader P Chidambaram said on Monday that the issue of Rs 2,000 note and its subsequent withdrawal raised doubts about the integrity and stability of the Indian currency. Addressing a press conference here, the former Union finance minister said key economic indicators are pointing to the downside and there is little confidence that the economy will get back on the high growth path.
Manipur’s situation is dangerous
P Chidambaram also said that the situation in Manipur is dangerous and Prime Minister Narendra Modi’s continuous silence on this raises questions. More than 75 people have lost their lives in ethnic conflicts in Manipur. Chidambaram said that the worse thing is that the government does not even try to correct its mistakes.
Doubtful position on Indian currency
The Reserve Bank of India recently announced the withdrawal of Rs 2000 notes from circulation and asked people to deposit or exchange it in banks by September 30. Chidambaram said, the painful spectacle of the introduction of Rs 2000 note and its withdrawal has raised doubts about the integrity and stability of the Indian currency.
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Downward trend in the economy – P Chidambaram
Chidambaram said that the present conditions are a far cry from the average growth of nine per cent. The growth rate in the first three quarters of the financial year 2022-23 has been 13.2 per cent, 6.3 per cent and 4.4 per cent respectively, which shows a declining trend. He said that the Indian economy is growing at a very slow pace amidst unemployment, inflation and rising inequalities.
