No amount of spin, sophistry will hide Modi govt's Jhumlanomics: KTR

HYDERABAD: No amount of spin and sophistry will conceal NPA government's 'jhumlanomics', said Telangana Minister Kalvakuntla Taraka Rama Rao (KTR) on Thursday.

Taking to Twitter, he commented that it was very disappointing to listen to what Union Finance Minister Nirmal Sitaraman said on the state of Indian economy responding to a debate in Parliament. "The FM's statements are a crude joke on millions of Indians who are suffering daily due to the mismanagement of the economy by the NPA (Non-Performing Alliance) government. Her words about inflation and its impact on the common man are completely devoid of truth. The very fact she is claiming that the GST collection has increased indicates the indifference of Modi's regime towards people's suffering. The FM should know that no amount of spin and sophistry can cover up facts. Act of God and acts of fraud notwithstanding, the fact is that failed economic policies (such as demonetisation) of NPA government have resulted in disastrous consequences for India," KTR said.

The Telangana Minister felt that the lopsided economic policies of the NPA Government had resulted in unprecedented economic crisis since Independence and that the country was witnessing massive job losses besides a systematic erosion of incomes.

In his tweet, he listed out a few pointers as 'some undeniable facts':

Indian rupee is slumping to an all-time low against the US dollar.

Highest Inflation rate in 30 years.

Highest unemployment rate in 45 years is again a result of all-round policy paralysis. India surpasses Nigeria in poverty numbers.

KTR alleged that the continuous rise in the price of almost all essential commodities was hurting the common man. "These are all telltale signs of the deep mess that the BJP-led Central government has forced our economy into.

"GST, another hastily implemented economic reform, also failed spectacularly. Citizens are put to hardships owing to meaningless tax structures on essential goods, States are being robbed of their legitimate tax revenues and industry is penalized and terrorized by the Union Government agencies," he remarked.

KTR said that lack of foresight, inability to predict adversities, ill-conceived policy interventions, crony capitalism favoring a few big corporate houses seemed to be the hallmark of the NDA Government. To divert the attention from the pressing day-to-day issues, the Modi regime is resorting to 'divide and rule' tactics and is unleashing Central government agencies on people and parties that question their policies, he criticised.

Instead of excuses and self adulation, Modi's government should focus on taming the inflation and initiate measures to alleviate the pain of the common man, he advised.