Modi govt lacks vision to tackle economic slowdown: Sharma

Addressing a press conference here in the run up to the Maharashtra Assembly polls slated for October 21, Sharma said Prime Minister Narendra Modi and Chief Minister Devendra Fadnavis were targeting and maligning opposition leaders to deflect questions about their own performance.

"Why issues of farmer suicides, unemployment and the economic crisis are not being discussed in the campaign," he asked.

Investment, industrial production and exports were down while the Modi dispensation continued to harp on making India a USD 5 trillion economy, he said.

"To achieve the (USD 5 trillion economy) target, we need double digit growth, while it is 5 per cent or less at the moment," Sharma claimed.

He said the government had taken Rs 1.76 lakh crore from the RBI's contingency reserve and also slashed corporate tax, but "till September 15, the Rs 7 lakh crore revenue target has not been met".

"How does the government plan to meet the Rs 17 lakh crore target (for the full year) in the next six months," he asked.

Sharma questioned why the PM and Union finance minister had not asked the RBI to safeguard deposits of the customers of scam-hit PMC Bank.

He also said Rs 10 lakh crore in GST refund has not been given to exporters, adding that fiscal deficit was likely to be around 8 per cent this year.