Rahul Gandhi slams PM Modi, claims India has entered into recession

New Delhi, Nov 12: Wayanad MP and former Congress president Rahul Gandhi once again slammed Prime Minister Narendra Modi, claiming India has entered into a recession because of decisions taken by the PM.

Taking to Twitter, Rahul Gadhi said, "India has entered into recession for the first time in history. Mr Modi's actions have turned India's strength into its weakness." He attached a news report along with the tweet which talked about the state of India's economy.

In an article in Reserve Bank of India's (RBI) monthly bulletin released on Wednesday, an official said that India's Gross Domestic Product (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 novel coronavirus pandemic.

The researchers have used the 'nowcasting' method to arrive at the estimates ahead of the official release of data. However, their findings do not constitute the central bank's views.

Earlier, the lockdowns had led to a steep contraction of 23.9 per cent in the GDP for the April-June quarter as compared to the same period a year ago. The RBI has estimated that the economy will contract by 9.5 per cent for the full fiscal year.

Rahul Gandhi has been targeting the Centre over the handling of the coronavirus crisis, accusing it of not doing enough for the people of the country. He also criticised the lockdown imposed by the Modi government.

He had said on Wednesday that the central government needs to have a vaccine distribution strategy after US pharmaceutical major Pfizer announced promising results of its coronavirus vaccine.