Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Politics
1-min read

Country Facing Financial Emergency-like Situation, Congress Says Amid Slowdown in Automobile Sector

Expressing concern over the economic slowdown, Congress spokesperson Abhishek Singhvi said the situation is like that of a 'financial emergency'.

PTI

Updated:August 18, 2019, 8:03 PM IST
facebookTwitterskypewhatsapp
Country Facing Financial Emergency-like Situation, Congress Says Amid Slowdown in Automobile Sector
File photo of Congress leader Abhishek Manu Singhvi.
Loading...

New Delhi: The Congress on Sunday expressed concern over what it called the "slowdown" of economy and said the country is facing a situation like that of a "financial emergency".

Congress spokesperson Abhishek Singhvi accused the BJP of diverting the people's attention from its failures.

Expressing concern over the economic slowdown, Singhvi said the situation is like that of a "financial emergency".

He raised the issue of slowdown in automobile sector. The trend of the slowdown in the automobile industry did not come all of a sudden. The 31 per cent fall in sales is also the ninth straight drop in monthly passenger vehicle sales, Singhvi said.

"Sales have fallen in 12 out of 13 months since July 2018, underscoring the sharp slowdown in the world's fourth largest automobile market," Singhvi said at a press conference.

He also raised the issues of crashing stock exchange and rising fiscal deficit.

The other issues he raised are falling GDP figures, shrinking labour force, recession in real estate sector, continuous weakening of rupee, and falling foreign direct investment and foreign portfolio investment.

Criticising the Narendra Modi government, he said, "Ironically, if one looks at between Modi 1 (government) beginning and Modi 2, he or she shall figure that has been a regression in progress."

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results