The official Gross Domestic Product (GDP) for the second quarter from July to September of the financial year 2020-21 contracted 7.5%.
With two straight quarters of GDP contraction, India is has fallen into a technical recession — the first since India began releasing quarterly estimates of GDP in FY98.
Taking to Twitter, Congress leader Rahul Gandhi also reiterated the fact that Indian economy is in a recession for the first time ever and said that PM Modi needs to understand that “economy cannot be ordered to grow by diktats.”
“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
‘It All Began With Demonetisation’
Meanwhile, Congress MP Jairam Ramesh took to Twitter to say that the “shilanyas” for this recession was laid by PM Modi when he announced demonetisation on 8 November 2016.
Supriya Shrinate, National Spokesperson and Member Coordination Group of Congress Party, also took to Twitter to allege that India’s economic slump began with “Narendra Modi’s demonetisation”.
Twitter was smattered with more reactions and outrage over India’s dismal economic performance.