Rahul Gandhi on Monday said Prime Minister Narendra Modi’s misgovernance is a case study on how to ruin what was once one of the world’s fastest growing economies.
Rahul tweeted, “Power crisis. Jobs crisis. Farmer crisis. Inflation crisis. Prime Minister Modi’s eight years of misgovernance is a case study on how to ruin what was once one of the world’s fastest growing economies.”
Rahul Gandhi has been raising the issue of rising unemployment and economic mismanagement for the last few years but the government hasn’t acknowledged any crisis except the adverse impact of Covid.
The Reserve Bank of India said in its annual report a few days ago that India is likely to take another 13 years to overcome the losses incurred due to the Covid pandemic that hit the country in 2020. The Modi Government was harping on a five trillion dollar economy by 2024 but the size of the GDP reduced after Covid hit. India's GPD in current dollar terms had risen to $2.9 trillion in 2019 before falling to $2.7 trillion in 2020 due to Covid’s impact.
While India was witnessing a robust GDP growth of 8 to 9 per cent till 2016, the slump came in 2017 after the inexplicable decision of demonetisation, which produced a slowdown with 6.8 per cent growth in 2017, 6.53 per cent in 2018 and a pathetic 4.04 per cent in 2019. Then came Covid and the lockdowns, knocking the economy to the ground with a negative growth of minus 6.6 per cent in 2020-21. India did badly in economic management during the pandemic, performing far worse than most countries.
