Economy Faces Liquidity Shortage, Need Quick Decisions: Gadkari
Gadkari was speaking at a rally in Nagpur in support of the NDA government’s decision to enact CAA.
Union Minister Nitin Gadkari on Sunday, 22 December, said that the economy of the country is going through a challenging situation and it is because of the liquidity crunch that decisions have to be taken quickly.
The Minister of Road Transport and Highways said, “I called senior officials at my home and told them that there are cases of around Rs 89,000 crore. I'll not tell you what to do, I'll only tell you that the economy of the country is going through a challenging situation. There is a shortage of liquidity and decisions have to be taken quickly,” reported News18.
Gadkari was speaking at a rally in Nagpur in support of the NDA government's decision to enact the Citizenship Amendment Act (CAA) which has stirred nationwide protests since the Act was passed in the Parliament.
Gadkari's remarks, however come at a time when the Centre has been facing a lot of criticism for an economic slump, even as the nation's Gross Domestic Product (GDP) had contracted to 4.5 percent in the July-September quarter — the slowest growth rate in more than six years.
Wholesale price inflation increased to 0.58 percent in November from 0.16 percent the month before. Meanwhile, core sectors such as automobiles and manufacturing have also slowed down gradually due to lack of investments and lower consumer demand.
Talking about CAA, he said that the government’s only concern was foreign intruders living in the country, and that it was not against the Muslim community.
The rally was organised by a local body and was supported by the BJP and the Rashtriya Swayamsevak Sangh (RSS).
(With inputs from News18)
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