In a social media post, former finance minister P Chidambaram expressed his concerns about the state of the Indian economy under the BJP government's leadership. He accused the BJP of claiming economic robustness without providing a satisfactory explanation for the significant decrease in net FDI inflows, considering FDI as a vital indicator of foreign investors' confidence in the country's governance and economic policies.
Chidambaram highlighted the diminishing faith of both foreign and domestic investors in the BJP government's policies, leading to a lack of new investments entering the Indian market. He criticized the government for self-assigned positive assessments and emphasized the importance of receiving credible recognition from the investors themselves rather than internal accolades. The senior Congress leader also mentioned that the rising interest rates, stagnant real wages, increasing unemployment rates, and declining household consumption are clear indicators of an economy facing severe distress, suggesting that the current administration does not comprehend or address these issues effectively. Additionally, he pointed out that while the Finance Minister initially criticized Indian investors for their lack of confidence and then implored them to increase investments, the real problem lies in the flawed policies and mismanagement of the BJP government.