The GDP contraction is the sharpest contraction since quarterly figures began being revealed in 1996 and worse than what was anticipated by most analysts

New Delhi: The Congress on Tuesday attacked the Centre over the GDP droop, with former occasion chief Rahul Gandhi alleging that the “ruining” of the economy began with demonetisation and the federal government thereafter launched one “erroneous” coverage after one other.

The nation’s economy suffered its worst droop on file in April-June, with the gross home product (GDP) contracting by 23.9 p.c as the coronavirus-associated lockdown weighed on the already declining client demand and funding.

“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 stated in a tweet.

Congress chief Priyanka Gandhi Vadra additionally alleged that the federal government was accountable for the droop in the economy.

Rahul Gandhi had spoken of an “economic tsunami” six months in the past, whereas the federal government introduced a package deal only for “show” and take a look at the situation now, Priyanka Gandhi stated in a tweet in Hindi.

The BJP authorities has prompted a droop in the economy, she alleged.

Congress’ chief spokesperson Randeep Surjewala stated 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 began being revealed in 1996 and worse than what was anticipated by most analysts.

Chief Economic Adviser KV Subramanian, nevertheless, has stated the economy is “experiencing a V-shaped recovery” after the lockdown eased.

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