KOCHI: Stating the hasty introduction of the GST and demonetisation by the BJP Government has slowed down the country’s economic growth, former Prime Minister Manmohan Singh on Friday said he saw no immediate recovery.Addressing a public meeting as part of ‘Padayorukkam’, a march led by Opposition Leader Ramesh Chennithala here, Singh said the NDA Government imposed fresh hardships on the people soon after demonetisation by hastily introducing GST.
“GDP growth rate came down from 7.2 percent in 2015-16 to 5.7 percent in the first quarter of 2017-18. Small industries and small traders were badly hurt. I don’t see any immediate recovery,” he said. Singh further added the GST was an idea which had the blessings of Congress. “But Congress would’ve implemented it after due care and adequate preparation. Our aim was one country and one tax structure”.
On demonetisation, he said it turned out a be a historic blunder.
“The withdrawal of 86 per cent of currency imposed severe hardships on India’s farmers, and small industries and traders,” he said. Criticising the CPM-led LDF rule in Kerala, Singh said the rule of law has crumbled in the state. Women in the state don’t feel safe. Economic progress is slow”.
Singh asked whether the CPM would keep equidistance with Congress and BJP or as a united front to oppose BJP?
“If the CPM and the Left were sincere in the fight against BJP and its anti-people policies, they’ve to cooperate with the leadership of Congress at the national level and fight together against the BJP’s misrule and divisive policies,” he said.The former PM pointed out the LNG Terminal, which is being implemented at a cost of Rs 4,200 crore, a major project initiated during the UPA regime in Kerala, will change the economy of the state. Chennithala, in his speech, said the LDF in the state has collapsed, and lost its political base, as reflected in the recent tussle between CPM and CPI, the two major allies in the ruling front.