(MENAFN- NewsBytes) When Prime MinisterNarendra Modistormed to power again in May 2019, he gave the ministry of finance toNirmala Sitharaman .
Given hereducation and experience , it seemed she might be able to avert an economic crisis but the last weeks have shown otherwise.
And on Thursday, she claimed she is "working on economy".
What should we say? Kudos Tai for trying to do your job?
Context
How bad is the country's economy really?
India'sGDPgrowth fell to a seven-year low in April-June and was recorded at 5%. But that is not it.
The automobile industry is going through itsworst-ever phase , with companies like Maruti shutting down their factories fortwo daysthis month.
From two-wheelers to cars, and even heavy vehicles like trucks, sales have dropped across verticals, leading to lay-offs naturally.
Press conferences
Sitharaman has been holding press meets quite frequently
Off late, Sitharaman has been addressing press meets to announce "corrective measures". One of them was merging 10 majorpublic sector banksinto 4, a move which many weren't sure would work.
Interestingly, her recent address got her criticism when she announced that e-cigaretteswill be bannedfor "health purposes".
EntrepreneurKiran Mazumdar Shawasked why she (and not the Health Ministry) made this announcement.
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Why did you address the press meet, asked Shaw
Reply
I was following protocol: Sitharaman replied to Shaw
In a rare incident, Sitharaman replied to Shaw's query.
She said she briefed media about cabinet decisions and reminded that her colleague Prakash Javadekar wasalso therewith her.
Further, she revealed Union Health Minister Dr. Harsh Vardhan is abroad. "Health Secretary was also with me, explaining details. These are protocols, as you know, which government press conferences follow," she added.
You might have observed, I am working on economy: Sitharaman
Criticism
On Wednesday, Gandhis mocked PM Modi over economy
The distressing condition of the economy has put PM Modi on the receiving end of ire.
On Wednesday, the Gandhi siblings- Rahul and Priyanka, took a dig at him, citing a media report which claimed investors might be "falling out of love" with PM Modi.
Rahul tweeted: "Howdy economy doin', Mr. Modi? Ain't too good it seems (sic)". His sister took the same route.
Talking about $5 trillion won't help anyone, opined Priyanka
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