New Delhi, Jan 31 : The Congress on Monday slammed the government over the Economic Survey, with former party president Rahul Gandhi slamming government for finding achievement in tax recoveries, while former finance minister P Chidambaram called for a change in approach. “The people of the country are troubled by the burden of tax collection, whereas for the Modi government, earning this tax is a big achievement. There is a difference of point of view – they see only their wealth, not the pain of the people,” Rahul said in a tweet. Former finance minister and senior Congress leader P Chidambaram, meanwhile said it is a time for “contrition and change”, not for “boasts and no change”.
“The Economic Survey repeats ad nauseum that at the end of 2021-22 the Economy would have recovered to the pre-pandemic level (2019-20). In plain language, it means that on 31.3.2022 the GDP will be at the same level as it was on 31-3-3020,” Chidambaram said in a tweet. “It means that it has taken two years to go back to where we were on 31-3-2020. The two years have impoverished people. Millions of jobs have been lost, 84 per cent households have suffered loss of income, 4.6 crore people have been pushed into poverty, India ranks 104 out of 116 countries in the Global Hunger Index,” he said.
“This is a time for contrition and change (of approach), not for boasts and no change,” he said, slamming the government. The Economic Survey 2021-22 tabled in Parliament on Monday has projected an 8-8.5 per cent growth for the economy in the financial year 2022-23. The Survey said that growth in 2022-23 will be supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations, robust export growth, and availability of fiscal space to ramp up capital spending.
The Survey noted that the growth projection for the coming fiscal was based on the assumption that there will be no further debilitating pandemic related economic disruption, monsoon will be normal, withdrawal of global liquidity by major central banks will be broadly orderly, oil prices will be in the range of 70-75 dollars per barrel, and global supply chain disruptions will steadily ease over the course of the year. The Survey also said that tax collections have been buoyant for both direct and indirect taxes and the gross monthly GST collections have crossed Rs one lakh crore consistently since July, 2021.
