‘Distractions through media won’t help the poor’: Rahul Gandhi hits out at Centre
- In its report, the RBI warned of economic contraction till September
- "RBI has now confirmed, what I have been warning for months," Gandhi said
- He also gave suggestions to the Central government
Congress’ Rahul Gandhi on Wednesday hit out at the central government over the state of the economy. “Distractions through media won’t help the poor or make the economic disaster disappear,” Gandhi tweeted.
His comments came a day after the Reserve Bank of India released its Annual Report for 2019-20, in which it warned of economic contraction will continue in the second quarter.
RBI noted that the economy will take “quite some time to mend and regain” the pre-coronavirus momentum, as the “shock to consumption is severe” and the “poorest have been hit the hardest”.
“RBI has now confirmed what I have been warning for months,” Gandhi tweeted.
He had a few suggestions for the government: “Spend more, not lend more. Give money to the poor, not tax cuts to industrialists. Restart economy by consumption.”
Following a meeting of the Monetary Policy Committee (MPC), earlier this month, RBI Governor Shaktikanta Das announced that India’s GDP growth will contract in the first half of 2020-21.
The real GDP growth throughout 2020-21 is estimated to be negative.
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