Expanding credit will not raise consumption: Congress

FinMin’s measures will not tackle unemployment, inflation, says principle opposition party

The Congress on Monday, reacting to Finance Minister , said expanding the credit opportunities wont help in generating new demand or tackle growing unemployment. “Credit guarantee schemes have not guaranteed revival since India’s economic downturn. FM @nsitharaman needs to realise that doing the same thing over and over again delivers headlines but little else,” former Union minister Jairam Ramesh tweeted. At a virtual press conference, Congress spokesperson Gourav Vallabh said the government’s measures will not tackle low demand, low GDP, high inflation and unemployment.