GDP contractions: Modi govt. did nothing to stop slide, says Chidambaram
4 years, 4 months ago

GDP contractions: Modi govt. did nothing to stop slide, says Chidambaram

The Hindu  

Former Finance Minister P. Chidambaram on Monday said the provisional estimates for the first quarter of April to June didn’t come as a surprise as the Narendra Modi government ‘did nothing’ to stop the slide. Unfortunately, the Govt ignored the warnings,” former Congress chief Rahul Gandhi said in a separate tweet and tagged his own video of March 17 in which he predicted “an economic tsunami and large scale devastation”. The Finance Minister who blamed an ‘Act of God’ for the economic decline should be grateful to the farmers and the gods who blessed the farmers.” He said the GDP contraction by a whopping 23.9% means “about one quarter of the gross domestic output as on 30-6-2019 has been wiped out in the last 12 months”. Manufacturing is down by 39.3%, construction by 50.3% and trade, hotels, transport and communications by 47.0%.” He said the economic tragedy was foretold by many close observers including the RBI’s annual report that pointed out the contraction in the first half of 2020 is widely regarded as deeper and more destructive than the Great Depression and the Global Financial Crisis.

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History of this topic

Demonetisation led to GDP slump: Rahul Gandhi
4 years, 4 months ago

Demonetisation led to GDP slump: Rahul Gandhi

Deccan Chronicle  

New Delhi: Attacking the Centre over the slump in GDP, the Congress on Tuesday said that the economy was ruined from the day demonetisation was announced and it continued after the Modi government introduced one erroneous policy after another. Since then, the government introduced one erroneous policy after another," former Congress president Rahul Gandhi tweeted on Tuesday. “Rahul Gandhi had …

Finally, it falls to the farmer to rescue India\'s parlous GDP
4 years, 4 months ago

Finally, it falls to the farmer to rescue India\'s parlous GDP

Deccan Chronicle  

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4 years, 11 months ago

Govt has given up on reviving economy, accelerating growth, creating jobs: Chidambaram

India Today  

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From policy paralysis to economic paralysis? Modi govt is decisive but…
5 years, 5 months ago

From policy paralysis to economic paralysis? Modi govt is decisive but…

India Today  

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