PANAJI: The Indian economy will not recover to the pre-pandemic level in the current financial year or in 2022-23 if the Narendra Modi government continues to take “stupid decision,” said the former Finance Minister Union Paid Chidambaram here on Thursday.
Chidambaram said that the four-year national monetization pipeline was a stupid decision similar to providing state assets built by the Congress Party for decades.
“Recovery in 2022-23 can lead us to the pre-pandemic level, provided the government does not take a stupid decision,” Chidambaram said when he spoke to reporters.
Speaking further, members of the AICC Core Group Committee, said that together with demonnetization and wrong errors from GST, the central rejection to increase public spending during a pandemic was a stupid decision.
“And a few days before they took another stupid decision to monetize national assets,” said the former Union Minister.
Chidambaram said that the Indian economy ended with negative growth in the last financial year without expectations of recovery even at 2021-22.
“GDP for this year will not go to the Pre-Pandemic Level 2019-20.
2020-19 is a decrease.
2021-22 will show a clear increase in GDP but will not return to the pre-pandemic level.
Only when going to the pre-level Pandemic, can you call it recovery, “Chidambaram said.