Follow Us
- Gaza death toll crosses 43,000 as Israeli attacks kill 96 more Palestinians
- Prime Minister Modi lays foundation stone and inaugurates various development projects worth over Rs 4,900 cro
- Russian glide bomb smashes Ukrainian headquarters – MOD
- Israel will have ‘unimaginable’ consequences: IRGC chief
- At least 7 killed in Israeli airstrike on Lebanese city of Tyre
Investment declined in last 10 years due to Modi govt’s 'Raid Raj': Congress
Party General Secretary Jairam Ramesh said that India needs a liberal approach and not minor changes in policies.
Jairam Ramesh said in a statement, "The main reason for India not growing rapidly since 2014 is the sluggish investment rate. Investment has been declining continuously since 2014 due to unstable policies, dominance of crony capitalism and 'Red Raj' of ED, CBI and Income Tax Department."
He said that low investment pulls down the medium and long term GDP growth rate, resulting in a decline in wages and consumption growth.
"Gross FDI has also remained more or less stable since 2014. However, this is only part of the story. At least since 2016, multinationals around the world have been looking to invest in developing countries other than China. In this situation, India was in the right place at the right time with a large and growing labour pool, but this opportunity to attract FDI and become a manufacturing and export-oriented economy was wasted," he said. Countries like Bangladesh and Vietnam managed to reap the benefits.”
According to Jairam Ramesh, corporate tax cuts and concessions like the PLI (production-linked incentive scheme) cannot replace a fundamentally free society, polity and economy “which has been plagued by masterstrokes like demonetisation, crony capitalism and red rule.”
The Congress leader said India needs a new, liberal approach to political economy, not minor policy changes.
One contract labourer died in Nalco Smelter plant
Loan limit under Pradhan Mantri Mudra Yojana (PMMY) increased to Rs.20 lakh from Rs.10 lakh
Sensex falls 494 points, Nifty drops 221 as markets close in red
Locals oppose Baitarani West coal mines in Chhendipada,Outfit threatens no industry in Angul
Locals oppose Baitarani Coal Mine at Chhendipada
-
Prime Minister Modi lays foundation stone and inaugurates various development projects worth over Rs 4,900 crore in Amreli, Gujarat -
Israel will have ‘unimaginable’ consequences: IRGC chief -
At least 7 killed in Israeli airstrike on Lebanese city of Tyre -
At least 136 died as Typhoon Trami hits Philippines -
At least 9 killed in new Israeli airstrike on UN-run school in Gaza City -
Iran would retaliate fearlessly against any act of folly targeting their country: President -
Israeli forces launch phosphorus bombs on Lebanese villages -
Gaza death toll crosses 42,900 with no letup in Israeli assault -
PM Modi to inaugurate projects worth around Rs 4,900 cr in Gujarat on Oct 28 -
Israeli army fires inside Kamal Adwan Hospital with 600 people inside -
Israel launches multiple strikes on Iran amid fear of a wider war -
India-Germany sign multiple MoUs on Green Hydrogen, Technology & Trade -
Israeli airstrikes kill 150 Palestinians in N.Gaza -
Cyclone “Dana” Makes Landfall,Moves Across Northern Odisha & West Bengal Coasts -
2 Soldiers martyred, 2 Porters Killed In Terror Attack In J&K's Baramulla