india

Updated: Sep 14, 2019 22:08 IST

Soon after finance minister Nirmala Sitharama announced a fresh of steps to boost the economy, the Congress alleged that the minister was “clueless” in dealing with the economic slowdown and termed the latest steps as “cosmetic”.

Nirmala Sitharaman announced another set of measures to boost the economy that included over Rs 50,000 crore package for exports and creation of a Rs 20,000 crore fund for unfinished real estate projects to complete about 3.5 lakh dwelling units in affordable and middle income segments.

“I can only say that the finance minister is clueless as to how to deal with the gravity of the crisis,” Congress spokesperson Anand Sharma said at a press conference.

Sharma maintained that after the earlier announcements of stimulus package, the situation deteriorated and the new steps are not going to help.

“The finance minister of India is lacking in macroeconomic understanding. A comprehensive package for economic revival was expected,” he was quoted as saying by PTI.

“The steps announced today will not revive the Indian economy, they are purely cosmetic, piecemeal and also convey the arrogance of the government and its indifference to the seriousness of the situation,” he said.

Sharma said what was required to revive the economy was infusion of capital and not merely “small interest subventions” which have been announced.

Sharma also hit out at Sitharaman’s earlier statement blaming millennials’ preference for ride-hailing services such as Uber and Ola over owning cars, and not high taxes, for slumping vehicle sales.

(With PTI inputs)