Bhubaneswar: Senior BJP leader and Rajya Sabha member Dr Subramanian Swamy on Saturday advocated for the abolition of the income tax as an immediate stimulus to revive the Indian economy and provide relief to consumers.
Speaking at a debate organised by a local television channel, Dr Swamy said, “Today’s economy is characterised by a few factors like slowing down in demands for goods and people’s inability to invest money.”
Dr Swamy was highly critical over what he said ‘mishandling’ of the economy by the Narendra Modi government. He warned the BJP-led NDA government that the worst of economic slide down is yet to manifest.
“The economy is in a tailspin. A heavy dose of stimulus is what needed,” said Swami.
Modi’s government’s ambitious 5 trillion dollar economy target by the year 2024 also came in for sharp criticism by Dr Swamy.
He said, “In order to achieve the target by 2024, the country has to grow by 14.5 per cent per annum. In contrast, the GDP growth rate in 2019-20 is projected to grow at a mere 5 per cent.”
