Former Prime Minister Manmohan Singh on Sunday expressed concern over the state of the economy in the country. He urged the government to steer out economy of the "man-made crisis."
"The state of economy today is deeply worrying. Last quarter's GDP growth rate of 5% signals that were in midst of a prolonged slowdown. India has potential to grow at a much faster rate but all round mismanagement by Modi govt has resulted in this slowdown," Singh said today.
The Congress leader said that the manufacturing sector's growth tottering at 0.6% was distressing.
"This makes it very clear that our economy has not yet recovered from the man-made blunders of demonetisation and a hastily implemented GST," he said.
"India cannot afford to continue down this path. Therefore, I urge the govt to put aside vendetta politics and reach out to all sane voices and thinking minds to steer our economy out of this man-made crisis," the former prime minister added.
The scathing attack by the former prime minister comes after the country reported a slow GDP growth rate of 5 per cent for the first quarter of this fiscal.
Sharp deceleration in manufacturing output and subdued farm sector activity pulled down India's gross domestic product (GDP) growth to over six-year low of 5 per cent in the April-June quarter of 2019-20.