“Development or Destruction?” Rahul Gandhi attacks Centre over unemployment, inflation
Congress leader Rahul Gandhi has once again targeted the Narendra Modi government at the Center regarding the country’s economy and asked whether this was development or destruction
Congress leader Rahul Gandhi has once again targeted the Narendra Modi government at the Center regarding the country’s economy and asked whether this was development or destruction. Rahul Gandhi has claimed that the country’s bank and the gross domestic product are in trouble and in this situation the morale of the public is falling.
Rahul Gandhi took to his Twitter handle to target the government. He wrote: “Banks are in trouble and GDP too.” Inflation was never so high, nor was unemployment. Public morale is crumbling, and social justice is being crushed daily. Is it development or destruction?”
Rahul Gandhi’s reaction came after the central government imposed the restrictions on Laxmi Vilas Bank for a month. Under this, bank account holders will be able to withdraw up to Rs 25,000. The government has taken this step following the advice of the Reserve Bank of India (RBI) in view of the bank’s poor financial condition.
Significantly, after Yes Bank, Lakshmi Vilas Bank has become the second private sector bank to get into trouble this year. Restrictions were imposed on Yes Bank in March.
Meanwhile, RBI in its report said that India’s Gross Domestic Product (GDP) is likely to contract by 8.6 percent for the July-September period, which means India will enter into a recession for the first time in history in the first half of 2020-21.
Many experts feel that damage to the country’s economy was caused by the coronavirus lockdown imposed by Prime Minister Narendra Modi.