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'Financial emergency' looms due to 'wrong' govt policies: Congress

The country is being pushed towards "financial emergency" because of the Centre's "wrong" economic policies, the Congress said on Thursday. Even three years after the demonetisation exercise, the country is still facing its after-effects, the party said on the eve of the Modi government's November 8, 2016 decision to scrap high-value notes.

PTI PTI
New Delhi Published on: November 07, 2019 22:51 IST
'Financial emergency' looms due to 'wrong' govt policies: Congress
Image Source : PTI

'Financial emergency' looms due to 'wrong' govt policies: Congress

The country is being pushed towards "financial emergency" because of the Centre's "wrong" economic policies, the Congress said on Thursday.

Even three years after the demonetisation exercise, the country is still facing its after-effects, the party said on the eve of the Modi government's November 8, 2016 decision to scrap high-value notes.

Congress MP and national spokesman P L Punia said the central government opted out of the Regional Comprehensive Economic Partnership (RCEP) agreement due to pressure mounted by the party and other opposition outfits.

"The decision of demonetisation was taken without any thought and the country is facing its after-effects even today," he said.

Punia hit out at the government led by Prime Minister Narendra Modi over its economic policies. "The government kept on taking wrong decisions on the economic front and is pushing the country towards financial emergency, he told reporters at the Indore Press Club.

He claimed the government was set to sign the RCEP agreement by compromising on the nations interest, but because of strong opposition from the Congress and other opposition parties, it was forced to retreat.

"China says it will try to convince India to sign the RCEP. It is a matter of concern. If India inks this pact, then import of cheaper goods from China will jeopardise small and medium industries of the country, he said.

To a question on the extradition of diamond trader Nirav Modi, a key accused in the multi-crore PNB scam case, to India from the UK, Punia said this query should be posed to the central government in view of his latest statement. If Nirav Modi is saying that in the event of being
extradited to India from Britain, he will commit suicide, then it would be better if this question is asked to the central government and the BJP," the Congress spokesman said.

Punia alleged Nirav Modi is close to big persons in the BJP who, he claimed, were involved in ensuring his escape from the country just before the USD 2 billion PNB scam came to light. The Congress MP, however, did not identify these big persons.

Nirav Modi, arrested by the UK police in March 2019, is currently lodged in a London jail. Asked about the delay in formation of a government in Maharashtra, where the BJP and the Shiv Sena are locked in a power-sharing tussle, Punia said the governor should explore available alternatives.

If the BJP and the Shiv Sena are unable to form a government in Maharashtra, then it is the duty of the governor to ensure formation of government by trying available alternatives," he said. 

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