Tuesday, October 19, 2021
Home Latest business news Economy news AFTER RBI REPORT, RAHUL QUESTIONS GOVT

AFTER RBI REPORT, RAHUL QUESTIONS GOVT

In a tweet on Wednesday morning, Congress leader Rahul Gandhi said, “RBI has now confirmed what I have been warning for months.”  He then made a few suggestions. “Government needs to Spend more, not lend more. Give money to the poor, not tax cuts to industrialists. Restart economy by consumption.”  “Distractions through media won’t help the poor or make the economic disaster disappear,” he added. His tweet was accompanied with a news report.

On Tuesday, the RBI warned of economic contraction till September. The central bank said in its annual document that more protracted spread of the coronavirus pandemic, deviations of the monsoon from the predicted normal rains and global financial market volatility are key downside risks to growth. The pandemic has affected over 200 countries, bringing economic activity to a standstill, the RBI said.

Covid-19

The central bank also said that the outbreak of the COVID-19 pandemic affected the supply of notes. “The supply of banknotes during 2019-20 was also lower by 23.3 per cent than in the previous year mainly due to the disruptions caused by the outbreak of COVID-19 and the ensuing lockdown,” the report said.

The central bank’s annual report comes days ahead of the release of official data on GDP for the quarter ended June 30. Rahul Gandhi has been relentlessly attacking the government on social media over the handling of coronavirus pandemic, which has badly affected the national economy.

Read Also: Delhi HC rejects appeal alleging ICAI’s Rs 15 crore donation to PM CARES violated CA Act

The ruling party, however, has dismissed the Congress leaders’ claims. Last week, BJP chief JP Naada lashed out at Rahul Gandhi, describing him as “the prince of incompetence”, calling him a “loser” and accusing him of “spreading fake news” over his attack on PM CARES Fund, set up by the centre to help raise money for combating Covid outbreak.

Most Popular

Kapil Dev’s viral ad mimicking Ranveer Singh triggers meme fest, see best ones here

Kapil Dev has taken the internet by storm, the former skipper has featured in an ad for CRED (a credit card management app). The advertisement starring cricket legend Kapil Dev shows him making some radical fashion choices inspired by Bollywood actor Ranveer Singh

Top News Today: Maharashtra extends timings of restaurants, shops, allows amusement parks from October 22

Top News Today: In the top news, you will get the daily dose of news from big political news to the viral trend that caught your attention.

For me, Mahi is my brother, says Hardik Pandya as he recalls his difficult times

Hardik Pandya, who made his India debut under MS Dhoni in 2016, has showered praise on MS Dhoni while sharing his close relationship with the former captain and current mentor of the national team. Pandya, in an interview with ESPNCricinfo, revealed how Dhoni helped him during the dark phase of his career when he was suspended by BCCI for his comments made on a TV talk show.

Sunny Deol birthday special: Lesser-known facts about Gadar actor’s lady love Pooja Deol

Sunny Deol's professional life is known to everyone, however, little is known about his love life with Pooja Deol. On the occasion of Sunny Deol's 65th birthday, here are some lesser-known facts about the couple's love story and marriage.