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Country Under Severe Economic Crunch: APCC President Ripun Bora

Country Under Severe Economic Crunch: APCC President Ripun Bora

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  22 Aug 2019 4:28 AM GMT


GUWAHATI: Assam Pradesh Congress Committee (APCC) raged that the country’s economy is fast dwindling and alleged that demonetization is the jolt that shook the budding economy of India.

Addressing a press meet at the party headquarters in Rajiv Bhawan on Wednesday, APCC president Ripun Bora expressed his concern over the decline in GDP (Gross Domestic Product) growth rate and accused the Prime Minister Narendra Modi of facilitating the severe economic crunch with 2016 Indian banknote demonetization. “At the time of demonetization, former Prime Minister Manmohan Singh rightly predicted the fall in economy, which has turned into a reality now,” said Bora.

The APCC president further pointed out that the GDP growth rate as on January to March 2019 has declined to 5.8 against the expected 6.5 percent level, which is a massive 20 percent decline compared to last year’s growth of 7.3. He further stated that the rate of inflation in July 2019 was 3.2 percent, which is the highest in last nine months, due to the rise in food price. He also claimed that there is a massive reduction in automobile industry by 23.3 percent with vehicle loan rate dipping to 5.1 percent, the slowest in five years, while value of new investment has gone down to 79 percent. Bora also alleged that there is over six percent rate of unemployment, the highest in last 45 years.

Further, Bora said that APCC will felicitate the freedom fighters of Assam and will visit their families to commemorate the state heroes. “We will also visit the families of the Congress workers who died in the hands of extremists. We will pay special homage to four martyrs Maniram Dewan, Kushal Konwar, Piyoli Phukan and Piyoli Baruah, who were hanged to death. The programme will start from September 10 and will conclude on September 17,” said Bora.

Regarding the former Congress MPs Bhubaneshwar Kalita, Santiuse Kujur,fomer mla RP Singh, and Gautam Roy, who joined the BJP recently, the APCC president said that APCC will conduct a rally at their home constituencies to prove Congress’ stance.

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