Is the Indian economy really in the “pink of health”, senior Congress leader P. Chidambaram questioned on Friday, accusing the government of “backsliding on the fiscal deficit target for the current year” and pointing out the depreciating value of rupee.
In a series of tweets, Mr. Chidambaram said. "Within months of setting the FD target at 6.4 per cent for 2022-23, government is backsliding. Now, Government is saying it will 'try to keep the FD at 6.7 per cent', same as the level in 2021-22."
Congress has carried out a sustained attack on the BJP government for the state of economy in the recent months. Mr. Chidambaram also pointed out that all the economic indices are way off the mark. "High FD, high inflation, huge FPI outflows, depreciating rupee, depletion of forex reserves — what do they point to? Is the Indian economy in the pink of health," he questioned.
