No new investment, thousands of jobs lost every month: Chidambaram slams government over economy

No new investment, thousands of jobs lost every month: Chidambaram slams government over economy

PTIUpdated: Thursday, October 17, 2019, 10:43 PM IST
article-image
Former Union Minister P. Chidambaram. | ANI Photo

New Delhi: Senior Congress leader P Chidambaram on Thursday 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 lodged in the Tihar Jail in a corruption 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.

RECENT STORIES

DGCA Probes IndiGo After 150 Flight Cancellations; Crew Shortage Claims & FDTL Dispute Trigger...

DGCA Probes IndiGo After 150 Flight Cancellations; Crew Shortage Claims & FDTL Dispute Trigger...

Russian President Vladimir Putin's 2-Day India Visit Begins Today; Know What's On Agenda - 10 Points

Russian President Vladimir Putin's 2-Day India Visit Begins Today; Know What's On Agenda - 10 Points

West Bengal CM Mamata Banerjee Slams Amit Shah For SIR Ahead Of Elections

West Bengal CM Mamata Banerjee Slams Amit Shah For SIR Ahead Of Elections

TRAI Blocks 21 Lakh Mobile Numbers, 1 Lakh Entities For Spam & Fraud

TRAI Blocks 21 Lakh Mobile Numbers, 1 Lakh Entities For Spam & Fraud

Chhattisgarh News: Local Protests Disrupt Mining Operations At SECL’s Amera Opencast Mines In...

Chhattisgarh News: Local Protests Disrupt Mining Operations At SECL’s Amera Opencast Mines In...