Prime Minister Narendra Modi is protesting too much is a conclusion which is difficult to avoid after listening to his speech at the Company Secretaries annual meet. Mr Modi who normally speaks impromptu relied on slides and comprehensive notes to defend the performance of the Government on economic front. His defence that GDP has not fallen to a low level for the first time is true, but the unfortunate part is that it has happened because of self-inflicted wounds like demonetisation and hasty implementation of GST without doing the necessary ground work. On these issues along with growing unemployment, farmers distress, fall in exports, growing non-performing assets of banks has created a situation which to say the least will make a recovery difficult. To prove the point Reserve Bank of India has lowered growth target and refused to reduce the bank rate as sought by industry as well as supporters of the Government. These conclusions were also reinforced by report of State Bank of India, economic survey and fall in manufacturing. As for the employment statistics less said the better it will be as even companies making profits and considered leaders in their respective field like
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