Modis regional partnership move to fuel prevailing distress, says Congress

LUCKNOW: Congress on Friday said that the regional comprehensive economic partnership – which allows free trade between 10 ASEAN and five other countries including China, Australia, New Zealand and Japan – would further ruin Indian economy and add to the prevailing distress and unemployment scenario.
“The country is in a state of economic emergency… the manufacturing sector is at a loss, non-performing assets with banks are on the rise… Over 13 lakh finished housing units in the country have no buyers… per head loan for house hold items has doubled since 2015… A free trade relationship at this hour with countries like China, Australia and New Zealand will add to the injury,” Ajay Maken, former Union minister said on Friday.
Speaking ahead of Congress partys mega campaign against the prevalent economic crisis, he said: “the move will ruin the Indian economy further and add to the existing distress and unemployment scenario.”
He informed that the Congress would be launching a 10 day long nationwide campaign against Modi governments economic policies. Like Maken, 35 Congress leaders including former Prime Minister Manmohan Singh would be travelling to 35 cities of India to raise awareness on faulty economic policies of the Modi government.
Starting November 5, the campaign includes activities at block, district and headquarter levels across states of India. UP Congress president Ajay Kumar Lallu said that RCEP has exposed the real face of Modi government once again. “While on one hand, RCEP will benefit the big business houses, it will eat into the opportunity of medium, small anRead More – Source