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P Chidambaram, a senior member of the Congress, criticized the administration on Friday for the situation of the Indian financial system, questioning whether or not it was in “pink of well being” in mild of the nation’s giant fiscal deficit, rising inflation, and declining rupee’s worth. The federal government’s “backsliding on the finances deficit goal for the present yr,” he additionally questioned.
“The administration is reversing course simply months after establishing the FD goal at 6.4% for 2022–2023. The federal government is now pledging to “try and preserve the FD at 6.7%,” the identical stage as in 2021–2022, the previous finance minister mentioned on Twitter.
“What do excessive FD, excessive inflation, large FPI outflows, a weakening rupee, and dwindling overseas trade reserves point out? Is the Indian financial system in good condition? “He inquired.
The Congress occasion and its leaders have criticized the federal government’s financial plans and charged that the BJP administration has been “mismanaging” the financial system of the nation.
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