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Taking a harsh view on the Economic Survey 2019, former finance minister, P Chidambaram, said the government is pessimistic about the economy. Chidambaram said the government is expressing its scepticism through the Economic Survey.
“The first chapter is self-congratulatory (During the last five years, India’s economy has performed well.). I looked for the outlook for 2019-2020. It is in Volume-2, Chapter 01, but there is only a bland statement that ‘growth of the economy is expected to be 7 per cent in 2019-20. There are no growth projections sector-wise,” Chidambaram said.
“The closest in terms of describing the outlook for 2019-2020 can be found in Volume-2, Chapter 02. The Economic Survey flags slowing growth, shortfall in revenue, finding resources without compromising the fiscal deficit target, impact of oil prices on the current account and recommendations of the Fifteenth Finance Commission on Central Government finances. I am afraid, none of these is positive or encouraging,” he added.
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