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Country facing worst ever economic crisis: Antony

Country facing worst ever economic crisis: Antony

Thiruvananthapuram, November 8 (IANS) Congress Working Committee member A.K. Antony on Friday said that the country is passing through the worst ever economic crisis seen in independent India under the BJP rule.

"The Congress is embarking on a nationwide protest against this. At the end of it, a rally where lakh of people will take part will be held in Delhi. We will seek the support of other opposition parties also," said Antony to the media here.

A three time former Chief Minister and also a former Union Minister, Antony said the economic crisis is grave, while the agrarian sector is in a shambles.

"The unemployment rate has touched 8.1 per cent, while the global average is 4.9 per cent. The economy has been battered, as a result prices of essential items have zoomed like never before. A kilogram of onions today costs Rs 100. Exports have fallen badly, the core sectors are also performing poorly," said Antony.

Antony pointed out that the banking sector is precariously placed as during the NDA regime more than 25,000 bank frauds of various sizes have surfaced.

"The banks that performed well during the UPA regime are performing badly now. Instead of taking swift action against money launderers, this government is protecting them. Moreover sensitive organisations like railways and airports are all on the chopping block besides the reserves of the Reserve Bank of India to be used for emergency needs are being blown up. Our protests are against the wrong policies of the Narendra Modi government and we will be with the people of this country and for their welfare," added Antony.

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