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Indian economy in distress but BJP doesn't understand, says Chidambaram

By Business Standard - 7 months ago
Senior Congress leader P Chidambaram on Thursday claimed that the Indian economy is in "severe distress" and alleged "the so-called doctors of the BJP" do not care. In a post on X, the former finance minister said the BJP claims that the Indian economy is in robust health in 2023-24, but has no explanation why net foreign direct investment (FDI) inflows have dropped by 31 per cent. FDI is a measure of the confidence that foreign investors have in a country, the government and its policies, he pointed out. Such confidence has declined sharply in 2023-24, Chidambaram said. "BJP gives certificates to itself. The good certificate must come from foreign and Indian investors. Indian investors have expressed no confidence in the policies of the BJP government during the last three years," he said. That is why the finance minister had to admonish them and, when that failed, beg them to increase their investments, the Congress leader said. He further said that foreign investors have reali

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