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The country’s economy suffered its worst slump on record in April-June, with the gross domestic product (GDP) contracting by 23.9 per cent as the coronavirus-related lockdown weighed on the already declining consumer demand and investment.
“GDP – 23.9. The ruining of the country’s economy began with demonetisation. Since then, the government introduced one erroneous policy after another,” Rahul Gandhi said in a tweet.
Congress leader Priyanka Gandhi Vadra also alleged that the government was responsible for the slump in the economy.
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The BJP government has caused a slump in the economy, she alleged.
Congress’ chief spokesperson Randeep Surjewala said in a tweet in Hindi: “Modi ji, at least now accept that what you hailed as masterstrokes were actually ‘disaster strokes’ — demonetisation, faulty GST and lockdown.”
The GDP contraction is the sharpest contraction since quarterly figures started being published in 1996 and worse than what was expected by most analysts.
Chief Economic Adviser KV Subramanian, however, has said the economy was “experiencing a V-shaped recovery” after the lockdown eased. PTI