Indian economy in fragile state: Manish Tewari

Congress leader Manish Tewari here on Thursday said the Indian economy was in "fragile state" as all its fundamentals were down.

Taking part in discussion on the budget in the Lok Sabha, Tewari said the economy was "affected with coronavirus" and Prime Minister Narendra Modi was claiming its improving and prescribing cough and cold medicine.

He asked if the government didn't understand that the economy won't be back on track without rise in consumption of 90 crore people. "Last year, the government gave Rs 1.45 crore sops to capitalist, instead of 66 per cent rural population who are the biggest consumers."

Tewari accused the government of failure in providing "economic justice" to people and said the budget focused on wealth creators. "The government of 125 crore Indians is only for 101 billionaires. 70 per cent of the wealth is owned by 1 per cent," Tewari said.

Referring to former Prime Minister Manmohan Singh's forecast, Tewari said if an economics professor was saying the economy was not in a good shape it must be taken seriously.

Over 27 million people were lifted out of poverty in 10 years by the United Progressive Alliance government through a systematic plan, not by any "magical stick", said the Congress MP from Anandpur Sahib in Punjab.IANS