Chintan Shivir Day 2 Live Updates: “State Of Indian Economy Cause Of Extreme Concern,” Says P Chidambaram


The Congress is holding a three-day brainstorming session in Rajasthan’s Udaipur.

New Delhi:

The Congress is holding a three-day brainstorming session or Chintan Shivir in Rajasthan’s Udaipur in the shadow of poll debacles and dissent in the party which has seen a sharp decline in the last seven years.

The party said it would introspect in the next three days to embark on a new direction by confronting various challenges and pave the way for the country’s bright future. 

Ahead of its brainstorming conclave, Congress president Sonia Gandhi, in sharp comments against Prime Minister Narendra Modi today, said it was “painfully clear” that his “minimum government, maximum governance” policy meant keeping the country in a permanent state of polarisation, brutalising minorities and threatening political opponents.

The three-day ‘Nav Sankalp Chintan Shivir’ is being held in the backdrop of a string of electoral defeats and dissent in the party which has seen a sharp decline in the last seven years.

Here are the Highlights on Chintan Shivir Day 2 in Udaipur:

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“State of Indian economy cause of extreme concern, job situation has never been worse”: P Chidambaram

  • The state of the Indian economy is a cause of extreme concern.  A slower rate of growth has been the hallmark of the present government in the last 8 years. The post-pandemic recovery has been indifferent and halting.  The growth estimates of 2022-23 have been lowered from time to time in the last five months.
  • Inflation has risen to unacceptable levels, and threatens to rise further. WPI inflation is at 14.55 per cent and CPI inflation is at 7.79 per cent.  The government is actually fueling the rise of inflation by its wrong policies, especially through high taxes on petrol and diesel, high administered prices and high GST tax rates. 
  • The job situation has never been worse. The Labour Force Participation Rate (LFPR) is at a historic low of 40.38 per cent and the unemployment rate stands at 7.83 per cent. 
  • We reiterate our charge that social services expenditure as a proportion of total expenditure has fallen to an average of 5 per cent (in 8 years) from an average of 9 per cent in the 10 years between 2004 and 2014. 
  • The external situation has added to the pressures on the economy. The government appears clueless on the ways to deal with these developments. USD 22 billion has flowed out of the country in the last 7 months.  The foreign exchange reserves have depleted by USD 36 billion. The exchange rate stands at Rs 77.48 to a dollar, the highest ever.

“Along with nine colleagues, I steer a discussion on the Economy. There are 60 members in our group.  Yesterday, 37 members expressed their views over 4 hours. The discussions will continue today and tomorrow,” says P Chidambaram.  

The three-day ‘Nav Sankalp Chintan Shivir’ is being held in the backdrop of a string of electoral defeats and dissent in the party which has seen a sharp decline in the last seven years.

For all developments on Day 1 of Chintan Shivir, click here

“Silence Of Our Eloquent PM…”: Sonia Gandhi
Ahead of its brainstorming conclave, Congress president Sonia Gandhi, in sharp comments against Prime Minister Narendra Modi today, said it was “painfully clear” that his “minimum government, maximum governance” policy meant keeping the country in a permanent state of polarisation, brutalising minorities and threatening political opponents.

The party said it would introspect in the next three days to embark on a new direction by confronting various challenges and pave the way for the country’s bright future. 

The Congress is holding a three-day brainstorming session or Chintan Shivir in Rajasthan’s Udaipur in the shadow of poll debacles and dissent in the party which has seen a sharp decline in the last seven years.

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