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Modi Govt Destroyed Unorganised Economy in Last 6 Years, Says Rahul Gandhi

In this photo taken on February 4, 2020, Congress leader Rahul Gandhi speaks at a public meeting in New Delhi. (Photo by Money Sharma/AFP)

In this photo taken on February 4, 2020, Congress leader Rahul Gandhi speaks at a public meeting in New Delhi. (Photo by Money Sharma/AFP)

Gandhi said although the unorganised economy generates 90% of the country's employment, the government destroyed it through moves like demonetisation and implementation of "wrong GST".

Congress leader Rahul Gandhi on Thursday accused the Narendra Modi government of decimating the unorganised economy comprising farmers, labourers and small businesses in the last six years of its rule, and said the country will not be able to generate jobs in the coming period as a result.

Addressing via video conferencing the foundation stone-laying ceremony of the party's offices to be built in 22 district headquarters of Chhattisgarh, Gandhi said although the unorganised economy generates 90% of the country's employment, the government destroyed it through moves like demonetisation and implementation of "wrong GST".

Gandhi stressed the need to restore the balance between the organised and unorganised economies for the welfare of the country. The event was organised on the occasion of the birth anniversary of former prime minister Rajiv Gandhi.

"India has two kinds of economies. One is an organised economy, wherein there are big companies, while the other one is unorganised economy, in which there are farmers, labourers, small shop owners and millions of poor people," he said. "Prime Minister Narendra Modi has been attacking the unorganised economy for the last six years. He did this because this sector has money and Modi ji wanted to transfer it to big businessmen."

"Wherever there is a Congress government (in the states), we work to balance the unorganised and organised economies. The unorganised economy acts as a shock absorber in adverse situations. If the country's unorganised economy is secured and strong, it can absorb any kind of shock and cope with difficult situations. Our mother and sister keep money at their home, because it works as a shock absorber," he added.

"Farmers, labourers, small and medium business have been decimated as a result of demonetisation and extremely complex GST decisions by the Centre," the Congress leader alleged. "The first attack on the unorganised economy was the decision of demonetisation by PM Modi. He made people deposit their hard-earned money in the banks and then with that money he waived loans of 10-15 businessmen friends and crony capitalists. Then he imposed the wrong GST that led to collapse of small and medium businesses and farmers."

Slamming the Centre over the handling of the coronavirus situation, Gandhi said, "Modi ji suddenly implemented lockdown without any prior notice. Why did he suddenly do this? There was a thinking behind it which was to target our unorganised sector."

"Ninety per cent of employment is generated by the unorganised economy in the country. Modi ji destroyed this system. One by one companies will fall and small and medium businesses will collapse, which has already been started. This country will not be able to provide employment to youth in the coming days. It will be for the first time in Indian history that our country won't be able to give jobs to its youth because the small and medium business sector will be destroyed," he said.

Gandhi called for the need to restore the balance between organised and unorganised economies, which had been "distorted" by the Modi government.

first published:August 20, 2020, 16:12 IST