NEW DELHI, Oct 13 : The Narendra Modi government has come out with an evidence to prove that the Indian economy is in good shape, saying the box office performance of three Bollywood movies in a single day shows how the economy is booming.
Union minister Ravi Shankar Prasad said,”I was also told that on October 2, which is observed as one of the national holidays, three Hindi movies garnered Rs. 120 crore business on that day. Unless the economy is sound in the country how can only three movies collected so much business in a single day?.”
Prasad presented this argument while he was campaigning for the BJP for the assembly elections in Maharashtra that are due on October 21.
The Modi government is in denial and rebuts all the international financial institutions reports that Indian economy is most affected by the global economic slowdown. Prasad argued that the box office performance of three Bollywood movies presented a rather different picture of the economy than claimed by most financial experts.
“Electronic manufacturing, Information and Technology sector, Mudra loan, commerce services are performing very well. We never said that we will give government jobs to everyone… There are some people who have organised against the government and misleading people over unemployment,” Prasad said weeks after the economic growth dipped to a five-year low.
Congress General Secretary Priyanka Gandhi Vadra slammed Ravi Shankar Prasad for not facing the reality rather making comments on the people of India for watching movies.
” It is sad when lakhs of people in the country are losing jobs, their money is being bank-coiled, the Government is not bothered about the suffering of the people. they care about the profits of films. Mr. Minister, “Get out of the film world. Don’t steal your face from reality, says Priyanka Gandhi.
Modi government is OK with the Punjab and Maharashtra Co-operative Bank fraud and is unable to see that anguished depositors breaking down and weeping for their hard earned money and finance minister Nirmala Sitharaman is merely giving an assurance .
Prasad even said, “India was on the 11th position when Manmohan Singh was in power; today it is the fifth largest. We have surpassed even France”.
As Modi ministers are misleading the people of India on country’s economic situation, the World Bank said India’s growth rate is projected to fall to 6 per cent.
However, the bank in its latest edition of the South Asia Economic Focus said the country was expected to gradually recover to 6.9 per cent in 2021 and 7.2 per cent in 2022 as it assumed that the monetary stance would remain accommodative, given benign price dynamics.
The report, however, said disruptions brought about by the introduction of the GST and demonetisation, combined with the stress in the rural economy and a high youth unemployment rate in urban areas may have heightened the risks for the poorest households .
But Sitharaman agreed that there are few flaws in GST but it is a law and sharply advised businessmen entrepreneurs against “damning” a law that has been passed by Parliament with widespread approval.
The GST system, introduced by the BJP-led central government in 2017 but the businessmen and industry leaders still complain about certain teething troubles that are yet to be ironed out.
By Arti Bali