Congress leader Rahul Gandhi on Thursday attacked PM Modi and his government took a dig at citing RBI Report, which signifies that India has entered recession for the first time in history. Rahul Gandhi took Twitter to lash out at Modi. Congress leader held government policies responsible for the contracting GDP and slump in the Indian Economy.
Gandhi tweeted, “India has entered into recession for the first time in history. Mr Modi’s actions have turned India’s strength into its weakness.” According to an official of the Reserve Bank of India (RBI), GDP is likely to contract by 8.6 per cent for the July-September period, which means India will enter into a recession for the first time in history in the first half of this fiscal with two successive quarters of negative growth due to the COVID-19 pandemic.
Rahul Gandhi’s Tweet:
India has entered into recession for the first time in history.
Mr Modi’s actions have turned India’s strength into its weakness. pic.twitter.com/Y10gzUCzMO
— Rahul Gandhi (@RahulGandhi) November 12, 2020
‘Nowcasting’ method has been used by researchers to make an estimate ahead of the official release of data, and their views in an article in RBI’s monthly bulletin released on Wednesday do not constitute the central bank’s views. The RBI has estimated that the economy will contract by 9.5 per cent for the full fiscal year.
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