Congress launched an attack on Centre over the current state of the Indian economy, deadly disease Coronavirus outbreak and protests over amended Citizenship Act, Congress suggested Prime Minister Narendra Modi to follow advise of Dr Manmohan Singh, stating that ‘it is time to start listening to real economists’.
“Dear PM, Here’s some sound advice from Former PM Dr Manmohan Singh on how to fix your own mess. It’s time you start listening to real economists. #No Bank,” Congress tweeted quoting Singh.
The three suggestions to Prime Minister Modi by Singh include –
- Focus all energies and efforts on containing the COVID-19
- Withdraw or amend the Citizenship Act, end the toxic social climate and foster national unity
- Put together a detailed and meticulous fiscal stimulus plan to boost consumption demand and revive the economy.
The former Prime Minister further said that democratic institutions and certain sections of the media in the country have completely failed to protect the interests of the citizens.
“Institutions of law and order have abandoned their dharma to protect citizens. Institutions of justice and the fourth pillar of democracy, the media, have also failed us,” he said.
Earlier in the day, Congress leader Rahul Gandhi attacked Prime Minister Modi over Yes Bank crisis and said his ideals have destroyed India’s economy.
“No Yes Bank. Modi and his ideas have destroyed India’s economy. #NoBank,” Gandhi tweeted.
RBI has announced that a “moratorium” has been imposed on Yes Bank stressing that the bank’s financial capability has undergone a steady decline largely due to the inability of the bank to raise capital.
During the period of moratorium, the Yes Bank Limited shall not, without the permission in writing of the Reserve Bank of India, make, in the aggregate, payment to a depositor of a sum exceeding Rs. 50,000 lying to his credit, in any savings, current or any other deposit account.