Indian Economy Cause Of "Extreme Concern", Time For "Reset": P Chidambaram

Former Finance Minister P Chidambaram, who heads the panel on economy constituted by Congress president Sonia Gandhi to lead discussions at the 3-day 'Chintan Shivir' in Rajasthan's Udaipur, said the time is ripe for a comprehensive review of fiscal relations between the Centre and states.

Asserting that the state of India's economy is a cause of "extreme concern", senior Congress leader P Chidambaram today said taking into account global and domestic developments, it may be necessary to contemplate a reset of economic policies.

Addressing a press conference, Mr Chidambaram said a slower rate of growth has been the "hallmark" of the present government in the last eight years, and the post-pandemic recovery has been "indifferent and halting".

Mr Chidambaram, who heads the panel on economy constituted by Congress president Sonia Gandhi to lead discussions at the three-day 'Chintan Shivir' in Rajasthan's Udaipur, also said the time is ripe for a comprehensive review of fiscal relations between the Centre and the states.

The consequences of the poorly drafted and unfairly implemented GST laws brought in by the Modi government in 2017 are there for everyone to see, the Congress leader said.