New Delhi, Jun 4 (UNI) Congress on Thursday claimed that the Narendra Modi government was in “panic mode” over the state of the economy and accused it of resorting to short-term measures instead of addressing deeper structural issues affecting private investment and growth.
In a statement, Congress general secretary in charge of communications, Jairam Ramesh, referred to media reports suggesting that the Centre was considering an ordinance to amend the Income Tax Act and remove the 12.5 per cent long-term capital gains tax on investments made by foreign portfolio investors (FPIs) in Indian government securities.
“The Modi Govt is clearly in panic mode and is under siege from within its ecosystem on the current economic situation,” Ramesh said.