"PM Needs To Understand.": Rahul Gandhi On Recession
New Delhi: Congress MP Rahul Gandhi today took a swipe at the government over reports that the economy has gone into a recession and crores have been left unemployed. He pointed to the basic job scheme MGNREGA, which was launched by the Congress-led United Progressive Alliance government, as having made to remain idle with 'three crore people still looking for work'.
'Under PM Modi, India's economy is officially in a recession for the first time ever. More importantly, 3 crore people are still looking for work under MNREGA. Economy cannot be ordered to grow by diktats. PM needs to first understand this basic idea,' Mr Gandhi tweeted, in what was seen as an allusion to PM Modi's often overnight announcements that result in sweeping policy changes immediately.
Under PM Modi, India's economy is officially in a recession for the first time ever.
More importantly, 3 crore people are still looking for work under MNREGA.
Economy cannot be ordered to grow by diktats. PM needs to first understand this basic idea.
— Rahul Gandhi (@RahulGandhi) November 27, 2020
From sudden demonetisation in November 2016 to the announcement of the lockdown in late March necessitated by the coronavirus pandemic, which led to hardships, opposition leaders have been attacking PM Modi over decisions that they say were taken without considering their impact on a vast number of the population.
The country's gross domestic product (GDP) also shrank for the second straight quarter through September, although it showed signs of a pick-up after the easing of pandemic restrictions that triggered a record contraction in the previous quarter.
The GDP in July-September quarter contracted 7.5 per cent on year, data released by the National Statistical Office today showed, compared to a decline of 23.9 per cent in the previous three months.
Annual growth of 3.4 per cent in farm sector and 0.6 per cent in manufacturing during September quarter raised hopes of an early recovery as the government gears up to distribute COVID-19 vaccine whenever it becomes available.
The centre is expecting the recent easing of farm and labour laws, along with tax incentives, to bolster manufacturing and lure more foreign investment.
India is not alone in suffering from economic troubles because of the pandemic. Several other nations have seen their economy shrink as manufacturing slows down.