With high fiscal deficit, inflation, FPI outflows, is Indian economy in pink of health: Chidambaram

Senior Congress leader P Chidambaram on Friday criticized the government over the state of the Indian economy, asking if it was in the ”pink of health” after high fiscal deficit, inflation, and the depreciating value of the Rupee.

He also questioned the government for ”backsliding on the fiscal deficit target for the current year.

”Within months of setting the FD target at 6.4 percent for 2022-23, the government is backsliding. Now, Government is saying it will ‘try to keep the FD at 6.7 percent, same as the level in 2021-22,” the former finance minister said on Twitter.

”High FD, high inflation, huge FPI outflows, depreciating rupee, depletion of forex reserves — what do they point to? Is the Indian economy in the pink of health,” he questioned.

The Congress party and its leaders have been questioning the government’s economic policies and accusing the BJP dispensation of ”mismanaging” the country’s economy.