MAY 30TH, 2020 PRESS RELEASE STATEMENT BY SHRI KC VENUGOPAL & SHRI RANDEEP SINGH SURJEWALA HELPLESS PEOPLE, HEARTLESS GOVERNMENT SIX YEARS, SIX MYTHS EXPOSED. 2019-2020 A YEAR OF DISAPPOINTMENT, DISASTROUS MANAGEMENT AND DIABOLICAL PAIN; AND AT THE START OF THE SEVENTH YEAR, INDIA STANDS AT A CROSSROADS. IT’S CITIZENS EXHAUSTED BY THE WEIGHT OF THIS GOVERNMENT’S SINS, INEPTITUDE AND CALLOUS INSENSITIVITY TO THE WIDESPREAD SUFFERING. Over the last six years, India witnessed a steady increase in the politics of distraction and false noise, to the point that it has become a defining mainstay of Modi Government’s administrative style. While it served the political interests of the BJP, it came at an unprecedented economic and social cost to the nation. Prime Minister Modi would do well to remember: Extraordinary Promises beget extraordinary expectations. But as we shall see, even the most ordinary and mundane expectations of keeping a country running were beyond the capabilities of this Government which promised ‘so much’ and delivered ‘so very little’. MYTH ONE: ‘VIKAS’ VS. REALITY OF VOODOO MODINOMICS! Prime Minister Modi sold his brand of administration in one word- ‘Vikas’. He coined the catchphrase ’60 years v. 60 months’ to deliver this fabled Vikas. The Year ‘2020’ became the milestone for the realization of all promises. And what does the Government have to show for it? 1. 2 Crore Jobs vs. 27% unemployment: Modi came to power promising 2 crore jobs a year. But India witnessed the Highest Unemployment Rate in the last 45 years reached in 2017-18 (6.1% overall - 7.8% in Urban India and 5.3% in Rural India). Post Covid, India’s unemployment rate has soared to an unprecedented 27.11% (CMIE). 2. Under the Modi Government, GDP has become synonymous with ‘Grossly Declining Performance’: a. Lowest GDP growth since Independence. Most international and national Rating Agencies have predicted negative GDP growth in Financial Year 2020-21 (Nomura: -ive 5% in FY21, Fitch and CRISIL: -ive 5% in FY21, Goldman Sachs: -ive 5% in FY21, ICRA: -ive 5% in FY21). b. The Economy had been mismanaged to the point of ruin long before Covid-19. GDP growth has been sliding continuously since the last 21 months. 4th quarter of FY 2020 GDP is at an abysmal low of 3.1% and likely to be revised at 2%. 3. Banks Duped, India deceived: a. Six years of Modi Government witnessed “Loan Write-Offs” for ‘Bank Fraudsters’ of Rs.6,66,0000 crores (2014-2015 to September 2019). b. Six years of Modi Government witnessed 32,868 “Bank Frauds” involving public money to the tune of Rs. 2,70,513 crores. c. Six years of Modi Government witnessed “Stressed Assets of the Banks” rise to a whopping Rs. 16,50,000 Crores. Bank NPA’s rose 423% from Rs. 2,24,542 crores on June 30th, 2014 to Rs. 9,50,000 crores in March 2020. d. The most shocking revelation of Write-Offs, came on April 24th, 2020 in an RTI reply. In the midst of Covid-19, Modi Government wrote off loans worth Rs. 68,607 crores for the likes of Mehul Choksi, Nirav Modi, Jatin Mehta, Vijay Mallya and others. 4. Rupee reaches “Margdarshak Madal”: PM Modi ‘came to power promising US$1 will be = ₹40. But in Six years of Modi Government the Indian Rupee has become Asia’s worst performing currency. As of May 30th, 2020, US$1 = ₹75 .57. 5. Covid Relief reduced to a ‘Jumla’: The Rs. 20 lakh crores Covid-19 relief package touted by the PM as 10% of GDP has turned to be a mere 0.83% of GDP in reality. This has come as perhaps the most insensitive and callous announcement for nation that waited over 60 days for relief. MYTH TWO: ‘SABKA SAATH, SABKA VIKAS’ VS. ‘MITRON KA SAATH, BHAJPA KA VIKAS’ Six years of Modi Government have proven that it prioritizes the ‘haves’ over the ‘have-nots’. The rich have gotten richer while the poor, needy and vulnerable have been abandoned. 1. India now has the ‘Highest Income Inequality’ in 73 years (Credit Suisse Report). 1% people now own more than 45% of India’s Wealth on this Government’s watch (Oxfam). 2. Staggering increase in Rural Poverty rate to 30% in 2017-18. With the Covid-19 lockdown, nearly 80 million migrant workers are returning to India’s villages and the simple question is can the rural economy keep up? As per a United Nations and ILO Report, 40 crore people in the unorganized sector are expected to be pushed into poverty in the days to come. 3. Middle Class/Lower Middle Class is in “grave economic grief”: a. The total combined loss in income of (i) 30 crore depositors in ‘Small Savings Schemes’ (PPF, NSE, KVP etc.) and (ii) 44.51 crore Account Holders of SBI depositors (from reduction in interest rates) is a whopping Rs. 44,67o Crores annually. b. The Latest blow for the middle class and pensioners is discontinuation of 7.75% interest carrying RBI Bonds. c. 113 lakh Central Government employees, Armed Forces Personnel and Pensioners have lost Rs. 37,630 crores annually by the backdated cutting of their Dearness Allowance and Dearness Pay. 4. While the country has gotten poorer, the BJP has seen a dramatic rise in its fortunes. The BJP's income increased from Rs. 970 crores in 2014-2015 to Rs 2,410 crore in 2019-2020 i.e. by over 248%. MYTH THREE: ‘PRADHAN SEWAK’ VS. ‘AUTOCRATIC EMPEROR’: Prime Minister Modi advertises his austerity and humble roots, but six years of his Government have demonstrated a shocking lack of concern for the woes of the common man and worse still, demonstrates zero sense of accountability to the people. 1. The worst humanitarian crisis witnessed by India in recent memory, that of the Migrants, was a direct result of apathy and a failure of leadership. 80 million migrant workers were forced to walk back home without food, water and shelter in the midst of the Covid-19 pandemic as the Pradhan Sewak refused to even acknowledge their plight. 2. Be it Demonetization, GST or Covid Lockdown, all decisions are taken by one man, as repository of all wisdom, almost always with disastrous consequences. 3. Systematic Subjugation of all democratic institutions: a. The Election Commission, the Comptroller and Auditor General, the Central Vigilance Commission, the Information Commissions, the Lok Pal look weaker, more ineffective and more unwilling to act, than ever before. b. Deliberate and brazen refusal to clear appointments to the High Courts and Supreme Court by the Government has imperiled the independence of the Judiciary. Judge Loya’s mysterious death, the abrupt transfers of ‘inconvenient’ judges and the attempts at intimidation of judiciary are indelible blots on this Government’s legacy. c. The virtual suspension of all Parliamentary Standing Committees and the non-convening of Parliament itself in the guise of Covid-19 reflects in full the autocratic and unaccountable style. 4. Stifling of All Dissent. No engagement or discussion with opposition parties or opposition ruled states takes place. Systematic persecution of all political leaders, critics including authors, writers, thinkers, journalists etc. opposed to the BJP is the norm. Registration of false and motivated cases by misusing the CBI, ED and IT to harass and suppress contrary has become a defining trait. 5. Complete Aversion to Accountability and Transparency: a. In the moment of Global Pandemic, despite having collected over a billion dollars in the PM-Cares funds, there is an arrogant refusal to provide ANY details. b. The refusal to cancel the Rs. 1,10,000 crore Bullet Train Project or the Rs. 20,000 crore Central Vista project demonstrates that vanity matters more than alleviating suffering of those at the very margins. 6. Zero Press Conferences by the PM over the last 6 years. There is no pretense of even attempting to be accountable to the public. Propaganda and false statistics have replaced press conferences. MYTH FOUR: DOUBLING FARM INCOME VS. DECIMATING FARM ECONOMY. Six Years of Modi Government is an unending tale of betrayal of the ‘Andata’ i.e. the farmers. 1. Modi Government promised cost + 50% profit as MSP and doubling of farm income. Never once in 6 years did Modi Government fix MSP at cost + 50% as promised in their manifesto, based on “C2” formula. On the contrary farmers have suffered a loss of Rs.50,000 crores in Rabi 2020 season alone. 2. Profiteering at the cost of the Farmer and the Surging Input Costs have made agriculture economically unviable. a. In six years of Modi Government the excise duty on diesel has gone up from Rs. 3.56 per litre to Rs.31.83 per litre i.e. an increase of 800%. This is despite international oil prices crashing to a historic low. b. Price of DAP Fertilizer has gone up from Rs. 1075 per bag in 2014 to Rs. 1450 per bag in 2020. A 50kg bag of Potash has gone up from Rs. 450 to Rs. 969. A 50kg bag of Super fertilizer has gone up from Rs. 260 to Rs. 350 per bag. First time in India’s history the quantity in a Urea fertilizer bag has been reduced from 50kg to 45kg without reducing the price. 3. For the first time in India’s history, Modi Government taxed Agriculture. 5% GST has been imposed on fertilizers, 18% on pesticides, 12% on tractor and all agricultural equipment and 18% on all tractor tires, transmission and other parts. 4. PM Fasal Bima Yojana has become insurance company profiteering scheme.