Country was thrown into debt trap by Modi: CM KCR

The country under Modi ruled has borrowed more money and failed to register any growth proportionally, said CM KCR. Addressing the Assembly members on the finance bill, KCR pointed out that there was a growth rate of 12.73 percent that came down to 7.01 percent under Modi rule. Is it growth or reverse growth, he sought to know.

Modi borrowed huge sums and threw the country into debt trap. The country failed to register any development and people did not get any benefit. The people were only burdened by the BJP government increasing prices of all commodities, he said.

When UPA came to power in 2004, the GDP debt ratio was 66.7 which was brought down to 52 percent by the Manmohan Singh government. Since 2014 it has increased to 56.2 again. The debt to GDP ratio saw an increase of four percent under Modi rule. The fiscal deficit under Manmohan Singh government was 4.77 percent which is now 5.1 percent. On all parameters the country did not witness any development.

The Modi government waived Rs.14 lakh crore loans of corporate friends. His make in India has become Joke in India. The NDA has turned into ‘No Data Available’ as no minister have any data.

By Gollapudi Srinivasa Rao

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