Congress: INDIA bloc govt will herald stable, predictable policymaking

New Delhi, May 19

Congress general secretary Jairam Ramesh accused Home Minister Amit Shah of inciting “fear-mongering” and said an INDIA coalition government shall herald a new age of stable, predictable policymaking and overall prosperity.

He said the economic growth flourished significantly under the leadership of Dr Manmohan Singh. He said Dr Singh’s era was marked by higher private investment and manufacturing share percentages. Ramesh attributed the current economic challenges to a series of self-inflicted policy blunders, including demonetisation, implementation of GST and a poorly-planned lockdown.

The Congress leader underscored the adverse impact of the Modi government’s policies, which he argued has led to a climate of fear and uncertainty, prompting a notable exodus of traders from India to international destinations such as Dubai, London and Singapore.

Addressing the future outlook, Ramesh outlined the key focus of the INDIA government, emphasising the need to eradicate the prevailing atmosphere of distrust and fear. He reiterated the commitment outlined in the Congress manifesto to foster a conducive environment for private enterprises, regulatory authorities, tax bodies and the government to collaborate harmoniously.

Ramesh condemned the Modi government’s alleged vindictive and arbitrary approach, accusing it of favouring a select few and stifling competition. He warned against the ramifications of anti-competitive policies, which he claimed have contributed to underinvestment and exacerbated economic inequalities.

Highlighting promises outlined in the manifesto, Ramesh detailed the Congress’ plans to overhaul the tax regime, including the introduction of GST 2.0 with a single, moderate rate and the enactment of a Direct Taxes Code. Additionally, measures to eliminate exploitative tax schemes hindering investment in small companies and start-ups were emphasised.

The statement concluded with a reminder of the Congress’ commitments to address issues such as inflation, unemployment and stagnant wages, all while upholding principles of fiscal responsibility. Ramesh compared fiscal deficit figures between Dr Manmohan Singh’s tenure and the Modi government’s final year, highlighting the former’s superior performance in maintaining a lower deficit percentage relative to GDP.