On Monday, India’s GDP data was released, and the economy contracted sharply during the April-June (Q1) quarter at a record 23.9%. This is the worst performance in the country since it began reporting quarterly data in 1996. And very soon, #ResignNirmala started trending on Twitter, calling for the resignation of India’s Finance Minister Nirmala Sitharaman over the data.
Several Twitter users took photos of FM Nirmala Sitharaman calling it an “act of God.”
Briefing reporters after the 41st GST Council meeting last week, Finance Minister Nirmala Sitharaman said that the economy has been affected by the COVID-19 pandemic, which is an ‘act of God’ , and you will see a contraction in the current tax.
According to the National Statistical Office (NSO), Gross Domestic Product (GDP) at ‘Constant Prices (2011-12)’ in the first quarter of 2020-21 is estimated at Rs 26.90 lakh crore, compared to Rs 35, 35 lakh crore in the first quarter of 2019-20, showing a decrease of 23.9%.
In financial parlance, a contraction in GDP not only indicates the economy’s movement toward a recession, it also underscores reduced purchasing power along with lower taxes for the government, higher debt defaults, and falling capital spending. (capital expenditure).
GDP had grown by 5.2% in the corresponding quarter of fiscal year 2019-20. In the quarter prior to Q1FY21, economic growth was 3.1%.
Congressional Leader Rahul Gandhi tweeted: “GDP is reduced by 24%. The worst in the history of independent India. Unfortunately, the government ignored the warnings. ”
GDP is reduced by 24%. The worst in the history of independent India.
Unfortunately, the government ignored the warnings.
GDP 24% गिरा। स्वतंत्र भारत के इतिहास में सबसे बड़ी गिरावट।
सरकार का हर चेतावनी को नज़रअंदाज़ करते रहना बेहद दुर्भाग्यपूर्ण है। pic.twitter.com/IOoyGVPLS2
– Rahul Gandhi (@RahulGandhi) August 31, 2020
Some users pointed out that Nirmala Sitharaman is the worst FM in India so far.
#Act of God for their incompetence. These last 6 years were just a lie about development, we need a new government! “” Data-reactid = “51”> Another user wrote: “After disastrous economic policies, India has the worst drop in GDP of -23.9%. FM says it is a #Act of God for their incompetence. These last 6 years were just a lie about development, we need a new government! “
These are some of the comments on Twitter:
