At a time when the economic crisis has plunged several prominent sectors in India and has triggered massive job losses along with low consumer sentiments, Union Minister Prakash Javadekar has surprisingly said that there is no financial crisis in the country.?
FILE PHOTO. BCCL
The Minister of Environment, Forest and Climate Change in Prime Minister Narendra Modi-led NDA government made these comments even as slumping sales of cars have continued to plague the auto sector in which over 3.5 lakh jobs have already been lost and more than five lakh people are expected to face its implications further in the coming weeks.?
Just recently, Rajiv Kumar, the head of Niti Aayog, had claimed that the current slowdown was unprecedented in 70 years of independent India and called for immediate policy interventions in specific industries.
But the first step to solving any problem is acknowledging that there is one and the continued denial of prominent ministers such as Javadekar brings little relief to the people who have actually been affected by the worsening of India¡¯s economy and are facing the wrath of an almost recession-like scenario on a day to day basis.?
According to news agency PTI, Javadekar said that there is no economic crisis in India and that the central government was taking all necessary steps to strengthen the economy.
"To make the economy stronger, the government has taken all measures and I want to say that the fundamentals of the country's economy are strong. We are not in any crisis. Some reactions from non-banking financial companies (NBFCs) are there. But we are addressing all issues," he told a press-conference at his residence.
He also reacted to the Congress's attack on the government for the upcoming ''Howdy Modi'' event in the US despite an economic slowdown.
Javadekar said the Congress would never get such an opportunity.
"The stadium is already houseful for the 'Howdy Modi' event. Congress has never got this much popularity and will never get. I can only say that grapes are sour," said Javadekar.?