{"id":105686,"date":"2020-11-12T15:45:23","date_gmt":"2020-11-12T10:15:23","guid":{"rendered":"https:\/\/apnlive.com\/?p=105686"},"modified":"2020-11-12T18:36:24","modified_gmt":"2020-11-12T13:06:24","slug":"rahul-gandhi-pm-narendra-modi-indian-economy-recession","status":"publish","type":"post","link":"https:\/\/apnlive.com\/politics\/rahul-gandhi-pm-narendra-modi-indian-economy-recession\/","title":{"rendered":"PM Modi&#8217;s actions have pushed Indian economy into recession: Rahul Gandhi"},"content":{"rendered":"\n<p>Former Congress President Rahul Gandhi on Thursday said that Prime Narendra Modi-led government is responsible for India\u2019s economy entering into a recession. Gandhi tweeted that Modi\u2019s economic policies have turned India\u2019s strength into weakness as projections by a team of economists said that the gross domestic product (GDP) growth rate may contract by 8.6 per cent in the September quarter.The Congress leader had attached various news reports along with his tweet which talked about the current status of the Indian economy.<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">India has entered into recession for the first time in history. <br><br>Mr Modi\u2019s actions have turned India\u2019s strength into its weakness. <a href=\"https:\/\/t.co\/Y10gzUCzMO\">pic.twitter.com\/Y10gzUCzMO<\/a><\/p>&mdash; Rahul Gandhi (@RahulGandhi) <a href=\"https:\/\/twitter.com\/RahulGandhi\/status\/1326745819958013952?ref_src=twsrc%5Etfw\">November 12, 2020<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>According to a team of economists that included Michel Patra, the Reserve Bank of India (RBI) Deputy Governor in-charge of monetary policy, the country\u2019s economy is expected to shrink for a second consecutive quarter, pushing it into a technical recession in the first half of 2020-21. The negative growth in the first two quarters of the ongoing fiscal has been largely on account of Covid-19 pandemic induced lockdowns, the report said.<\/p>\n\n\n\n<p>However, the observations published in an article in RBI&#8217;s monthly bulletin do not constitute the RBI\u2019s views. The government is expected to release official statistics of GDP for July-September quarter of fiscal year 2020-21 on November 27.<\/p>\n\n\n\n<p>In the April-June quarter of the fiscal, the GDP contracted by 23.9 percent as compared to the same period a year ago. The central bank had earlier estimated that the Indian economy may shrink by 9.5 percent for the full fiscal year.The article published in RBI\u2019s bulletin by the team of economists also said that the economic contraction is ebbing with gradual normalisation in activities and it is expected to be short-lived.<\/p>\n\n\n\n<p>Read Also: <a href=\"https:\/\/apnlive.com\/udhav-thakeray-nitish-kumar-bihar-cm-bjp-shiv-sena\/\" data-type=\"URL\" data-id=\"https:\/\/apnlive.com\/udhav-thakeray-nitish-kumar-bihar-cm-bjp-shiv-sena\/\">Former BJP ally Shiv Sena warns Nitish of risks of being lameduck CM<\/a><\/p>\n\n\n\n<p>The Aam Aadmi Party led by Arvind Kejriwal has also targeted the Modi government. The party on Twitter congratulated finance minister Nirmala Sitharaman for achieving this feat.<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud835\udddc\ud835\uddfb\ud835\uddf1\ud835\uddf6\ud835\uddee \ud835\uddf5\ud835\uddee\ud835\ude00 \ud835\uddf2\ud835\uddfb\ud835\ude01\ud835\uddf2\ud835\uddff\ud835\uddf2\ud835\uddf1 \ud835\uddff\ud835\uddf2\ud835\uddf0\ud835\uddf2\ud835\ude00\ud835\ude00\ud835\uddf6\ud835\uddfc\ud835\uddfb \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\uddf3\ud835\uddf6\ud835\uddff\ud835\ude00\ud835\ude01 \ud835\ude01\ud835\uddf6\ud835\uddfa\ud835\uddf2 \ud835\uddf6\ud835\uddfb \ud835\uddf5\ud835\uddf6\ud835\ude00\ud835\ude01\ud835\uddfc\ud835\uddff\ud835\ude06.<br><br>Congratulations to Finance Minister <a href=\"https:\/\/twitter.com\/nsitharaman?ref_src=twsrc%5Etfw\">@nsitharaman<\/a> for achieving this feat. <br><br>Leave your special messages for Finance Minister in replies.<a href=\"https:\/\/t.co\/pRtu1TpRVh\">https:\/\/t.co\/pRtu1TpRVh<\/a><\/p>&mdash; AAP (@AamAadmiParty) <a href=\"https:\/\/twitter.com\/AamAadmiParty\/status\/1326770490686500866?ref_src=twsrc%5Etfw\">November 12, 2020<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Meanwhile, in its recent \u2018State of the Economy\u2019 report, RBI had said that the estimates by the National Statistical Office (NSO) for September quarter of FY21 will show the extent of improvement that occurred in the recent months<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a team of economists that included Michel Patra, the Reserve Bank of India (RBI) Deputy Governor in-charge of monetary policy, the country\u2019s economy is expected to shrink for a second consecutive quarter, pushing it into a technical recession in the first half of 2020-21. <\/p>\n","protected":false},"author":4,"featured_media":105701,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1497,4],"tags":[1252,88191,92143,98438,1440,110,98440,83590,2083,98439],"yst_prominent_words":[3813,5873,6849,6752,25350,3867,3814,21031,3885,21035,5313,3887,6893,4534,83565,18431,20964],"ppma_author":[140543],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/d2r2ijn7njrktv.cloudfront.net\/apnlive\/uploads\/2020\/11\/12153502\/Modi-Rahul.jpg","jetpack_sharing_enabled":true,"authors":[{"term_id":140543,"user_id":4,"is_guest":0,"slug":"apnnewsdesk","display_name":"APN Live","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/478eacb893eda88aa6ed8d99b005bf58?s=96&r=g"}],"_links":{"self":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts\/105686"}],"collection":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/comments?post=105686"}],"version-history":[{"count":0,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts\/105686\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/media\/105701"}],"wp:attachment":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/media?parent=105686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/categories?post=105686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/tags?post=105686"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=105686"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/ppma_author?post=105686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<!-- html is corrupted -->