West Bengal Chief Minister Mamata Banerjee speaking at an event in Kolkata on Thursday. Photo/ANI
West Bengal Chief Minister Mamata Banerjee speaking at an event in Kolkata on Thursday. Photo/ANI

From small industries to IT sector, all suffering from scarcity in India: Mamata Banerjee

ANI | Updated: Dec 05, 2019 16:57 IST

Kolkata (West Bengal) [India], Dec 5 (ANI): West Bengal Chief Minister Mamata Banerjee on Thursday said that there was a scarcity in all aspects of the Indian economy and the citizens are 'scared' and not sure about what to do in the current situation.
"The word 'bhukha' means hungry, and it can be said about the situation of the industries from medium to big level, the business, the banks, and the IT sector, everywhere there is a scarcity. The unemployment, poverty are on the rise and so is the price of onions. Only Hindu-Muslim politics which is divide-rule policy will not help," Banerjee said at an event here.
"Even with banks, we keep all our money there but they say you cannot withdraw more than a lakh. Everybody is scared, nobody is thinking about tomorrow. If one looks at the GDP, he will find that the economy is in a dangerous position," she added.
Banerjee further launched an attack on the central government by saying, "I was criticized for not increasing the rail fare when I was the Minister for Railways, but see what is happening today, they want to sell the rail, Air India. Unemployment is going to be a big disaster in India, but I am happy that our state has managed to recuse the high unemployment rate."
Earlier today, the Reserve Bank of India (RBI) kept the repo rate unchanged at the current 5.15 percent level but revised gross domestic product (GDP) growth projection to 5 percent from 6.1 percent for the current financial year 2019-20.
Despite easy monetary and fiscal policy, the economy slowed to 4.5 percent in the July to September quarter from 5 percent growth in the April to June quarter.
In the previous fiscal year 2018-19, the GDP grew by only 6.8 percent, according to government data. This was mainly due to weak household spending, muted corporate investments, and a crippling slowdown in manufacturing and construction activity. (ANI)

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