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Imports, exports down, bank credit has declined: Chidambaram slams govt over economy


Date: 18-10-2019
Subject: Imports, exports down, bank credit has declined: Chidambaram slams govt over economy
Senior Congress leader P Chidambaram attacked the government over "economic indicators" that imports and exports are down, and bank credit has declined, which he said means thousands of jobs are lost every month and there is no new investment.

The former finance minister said he has asked his family to tweet, giving two more economic indicators for the people to draw their own conclusions.

"Imports are down by 13.9%, exports are down by 6.6%. Meaning, thousands of jobs are lost every month. 2. Bank credit declines by Rs. 80,000 crore in five months between March and August 2019. Meaning, there is practically no new investment," he said in the tweets.

Chidambaram, who is currently in the custody of the Enforcement Directorate in a money laundering case, had said on Thursday that he would tweet two economic indicators every day for the people to draw their own conclusions.

On Wednesday, he had posted that per capita consumption expenditure for urban and rural India has decreased and India's rank in the Hunger Index is 102 out of 117 countries.

He said the two indicators mean that the poor are consuming less and there is serious hunger.

Source: moneycontrol.com

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