New Delhi:
Congressional MP Rahul Gandhi criticized the government today for reports that the economy has entered a recession and millions of rupees have been unemployed. He noted that the MGNREGA basic work plan, which was launched by the United Progressive Alliance government led by Congress, had caused it to remain inactive with “three million people still looking for work.”
“Under Prime Minister Modi, the Indian economy is officially in recession for the first time. Most importantly, three million people are still looking for work with the MNREGA. You cannot order the economy to grow by dictates. Prime Minister must first understand this basic idea, “Mr Gandhi tweeted, in what was seen as an allusion to Prime Minister Modi’s often overnight announcements that result in radical policy changes immediately.
Under Prime Minister Modi, India’s economy is officially in recession for the first time in history.
More importantly, 3 million people are still looking for work under the MNREGA.
The economy cannot be ordered to grow by dictates. PM needs to understand this basic idea first.
– Rahul Gandhi (@RahulGandhi) November 27, 2020
From the sudden demonetization in November 2016 to the announcement of the shutdown in late March due to the coronavirus pandemic, which led to hardship, opposition leaders have been targeting Prime Minister Modi for decisions they say were made without consider its impact in a large number of countries. population.
The country’s gross domestic product (GDP) also contracted for the second consecutive quarter through September, although it showed signs of rebounding after the easing of pandemic restrictions that triggered a record contraction in the previous quarter.
GDP in the July-September quarter contracted 7.5 percent year-on-year, data released today by the National Statistics Office showed, compared with a 23.9 percent decline in the previous three months.
Annual growth of 3.4 percent in agriculture and 0.6 percent in manufacturing during the September quarter raised hopes for a speedy recovery as the government prepares to distribute the COVID-19 vaccine when it is available.
The center hopes that the recent relaxation of farm and labor laws, along with tax incentives, will boost manufacturing and attract more foreign investment.
India is not the only one suffering economic problems from the pandemic. Several other nations have seen their economies contract as manufacturing slows.
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