PM Modi is not talking about economics, but 'Jumlanomics': Yechury

New Delhi [India], October 4 (ANI): Coming down heavily on Prime Minister Narendra Modi's promise to reverse the economic decline in the country, Communist Party of India (Marxist) (CPM) general secretary Sitaram Yechury termed his words on economics as "Jumla-nomics".

Yechury said, "The economy is in ruins. The social fabric of the country is in shambles and nobody really knows where the country is heading toward. What the Prime Minster is talking about is not economics but 'Jumlanomics'."

Hitting back at Prime Minister's words, where he asked people to refrain from creating a negative environment in the country, the CPM leader said that pessimism in the nation is created by the Prime Minister himself, his government and his policies.

Yechury said, "In a situation, where the farmers are in complete distress, there is total breakdown in farming activities, there is reduced rainfall, instead of announcing some measures to revive the economy, the Prime Minister is trying to gloss over the complete failure of demonetisation and the GST."

"What is happening to the country is the complete opposite of the promises he had made in 2014," he added.

Earlier in the day, Prime Minister Modi addressed the inauguration of Golden Jubilee Year of the Institute of Company Secretaries (ICSI) in New Delhi where he slammed the critics of the Bharatiya Janata Party (BJP)-led Union Government, saying that "some people find pleasure in spreading pessimism."

The prime minister's remark came in the wake of the Congress and other opposition parties' criticism of the government policies, especially the manner in which the Doklam stand-off with China was called off in August.

Prime Minister Modi said, "There are some people, who sleep well only after they spread a feeling of pessimism all around. We need to recognise such people."

He also said that the economy did plunge in the April-June quarter, but the Centre is constantly committed to reverse the decline. (ANI)