Former Finance Minister P. Chidambaram
Former Finance Minister P. Chidambaram
(PTI Photo/R Senthil Kumar)

New Delhi: Congress leader and former Union Finance Minister and senior P Chidambaram on Tuesday hit out at the Centre over the "sliding economy" and said that if unemployment rises and income declines there is the danger of youth exploding in anger.

In a series of tweets, the former finance minister said, "The circle of incompetent management is complete.

Mr Narendra Modi's government started in July 2014 with CPI inflation at 7.39 per cent. In December 2019 it was 7.35 per cent." Taking a jibe at BJP's promise of "Achhe Din", he said, "Food inflation stands at 14.12 per cent.

Vegetable prices are up 60 per cent. Onion prices are over Rs 100 per kg. This is the achhe din promised by the BJP." "The nation is engrossed with the anti-CAA, anti-NPR protests. Both present a clear and present danger.

The sliding economy is an even greater threat to the country. If unemployment rises and incomes decline, there is the danger of youth and students exploding in anger," he added.

The retail inflation rose to 7.35 per cent in December 2019 compared to 5.54 per cent in the previous month, according to government data released on Monday.

The last month's food inflation was 14.12 per cent as compared to 10.01 per cent in November last year, National Statistical Office data showed.

The data showed retail inflation was at over five-year high mainly due to the rise in the price of vegetables. The rise in inflation in vegetables was 60.5 per cent, pulses and products 15.44 per cent and meat and fish was 9.57 per cent.

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