We need well-conceived national strategy to make India USD 5 trillion economy: Ex-PM Manmohan Singh

Singh had hit out at the Narendra Modi-led government alleging that 'all-round mismanagement' is responsible for the "worrisome" state of the economy.

Published: 07th September 2019 07:17 PM  |   Last Updated: 07th September 2019 07:17 PM   |  A+A-

Former Prime Minister Manmohan Singh

Former Prime Minister Manmohan Singh (File photo | PTI)


JAIPUR: Acknowledging economic slowdown, former Prime Minister Manmohan Singh on Saturday stressed the need for adopting "a well-conceived national strategy to make India a 5 trillion dollar economy."

"Presently our country seems to have slowed down somewhat. The rate of GDP is declining. The investment rate is stagnant. Farmers are in distress. The banking system is facing a crisis, and unemployment is going up. We need a well-conceived national strategy to make India a 5 trillion economy," said Singh in his address at Laxmipat University.

ALSO READ| State of economy deeply worrying: Manmohan Singh

Earlier Singh had hit out at Prime Minister Narendra Modi-led government alleging that "all-round mismanagement" is responsible for the "worrisome" state of the economy. "The state of the economy today is deeply worrying. The last quarter's GDP growth rate of 5 per cent signals that we are in the midst of a prolonged slowdown. India has the potential to grow at a much faster rate but all-round mismanagement by the Modi government has resulted in this slowdown," he had said.

ALSO READ| Former PM Manmohan Singh, wife get 'Z+' VIP CRPF security cover

"Our youth, farmers and farmworkers, entrepreneurs and the marginalised sections deserve better. India cannot afford to continue down on this path. Therefore, I urge the government 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.  Prime Minister Modi had earlier said that India would become a 5 trillion dollar economy in the next five years.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp