India facing financial emergency, says Congress

New Delhi, August 18

The Congress today expressed concern over what it called the “slowdown” of economy and said the country is facing a situation like that of a “financial emergency”.

Congress spokesperson Abhishek Singhvi accused the BJP of diverting the people’s attention from its failures. Expressing concern over the economic slowdown, Singhvi said the situation is like that of a “financial emergency”. He raised the issue of slowdown in automobile sector.

The trend of the slowdown in the automobile industry did not come all of a sudden. The 31% fall in sales is also the ninth straight drop in monthly passenger vehicle sales, Singhvi said. “Sales have fallen in 12 out of 13 months since July 2018, underscoring the sharp slowdown in the world’s fourth largest automobile market,” he said.

He also raised the issues of crashing bourses, rising fiscal deficit, falling GDP, shrinking labour force, recession in realty, weakening rupee, and falling FDI and FPI investment. — PTI