Former PM and world renowned economist, Manmohan Singh while addressing the students of New Delhi Institute of Management(NDIM) talked about the various economic and social challenges the country has.
He talked about the devastating effect of the complexity of ‘economy’ on our society. Asserting on the ‘agrarian crises’ Manmohan Singh said that the suicide of farmers and the frequent farmer ‘agitation’ calls for an in debt analysis as it reflects ‘structural imbalance’ and further there must be a political will to address it.
He also spoke about he ‘unemployment’ crises, which is resulting into ‘restless’ amongst ‘aspirational’ youths of the country, together with ‘rural in debt-ness’ and ‘urban chaos’ and further said that the attempts to create Jobs has failed because of the ‘disastrous demonetisation’ and poorly implemented GST as small unorganised sector took a hit because of this.
Clearly, Manmohan Singh asserted that the ‘demonetisation’ was a ‘disaster’.
Further Manmohan Singh also said that the ‘progressive, environmental degradation’ are the outcome of ‘decisive’ forces at work.
“The suicides of farmers and frequent farmer agitation reflect the structural imbalances in our economy which call for serious in-depth analysis and political will to address them. The jobless growth, together with rural indebtedness and urban chaos have made the aspirational youth of our country more and more restless,” Manmohan Singh, said.
Former PM Dr. Manmohan Singh made a pointed comment on unemployment under the Modi govt., stating the youth is increasingly restless given the job-loss growth, rural indebtedness & urban chaos. https://t.co/vM64fionRt
— Congress (@INCIndia) February 18, 2019
He added, “The small unorganised sectors which were vibrant and contributing to the generation of wealth and employment opportunities have grievously suffered in the wake of the disastrous demonetisation and slip-short introduction and implementation of the GST.”
“We are living in a fast-changing world. On the one hand, we are getting more and more integrated with the world economy and exposed to the global institutions and market. And on the other hand, there are massive economic and social challenges at home.”
Ex-PM Manmohan Singh: Well thought-out policy&implementation strategies are required to stimulate industrial&commercial sectors. Knee-jerk reactions, off-the-cuff announcements of grandiose schemes&unproductive projects manifestly failed to uplift economy to its potential.(17.02) pic.twitter.com/NNZEcZPxcL
— ANI (@ANI) February 17, 2019