P Chidambaram says, India’s economy cause ‘extreme concern,’ time to ‘reset.’

P Chidambaram, a senior Congress leader, stated today that the state of India’s economy is a cause of ‘extreme concern,’ and that, in light of global and domestic developments, a reset of economic policy may be necessary. Mr Chidambaram told a press conference that the current government’s ‘hallmark’ in the previous eight years has been slower growth, and that the post-pandemic recovery has been ‘indifferent and halting.’

Mr. Chidambaram, who chairs a panel on the economy appointed by Congress president Sonia Gandhi to lead discussions at the three-day ‘Chintan Shivir’ in Rajasthan’s Udaipur, also stated that the time has come for a comprehensive review of the central-state fiscal relation.

The consequences of the Modi government’s badly drafted and unfairly implemented GST laws are there for everyone to see, according to the Congress leader. ‘The states’ fiscal position is fragile like never before and needs urgent remedial measures,’