Jharkhand Pradesh Congress Committee (JPCC) criticised the Central Government for the poor performance of Indian economy and contraction of Gross Domestic Product (GDP) for the second consecutive quarter.
Slamming the Central Government, JPCC Chief, Rameshwar Oraon said that the GDP figures for the July-September quarter have come out, the growth rate of the Country's economy is minus 7.5 percent in this quarter, earlier in the first quarter of April-June too, the GDP growth rate of the Country was minus 23.9 percent and negative GDP growth rate in the second consecutive quarter also proved that the economy of the Country is not in any better condition. The Indian economy has officially entered a recession with GDP in two consecutive quarters remaining in minus, he added.
Oraon said that the GDP growth rate shows that India remained the world's worst performer in the economic sector during this period.
He also said that the latest data clearly shows that India's economy in the second quarter was going down. Among the world's largest economic countries, India is in the worst position after Britain.
The JPCC Chief also said that not only during the Corona transition period, but also before the spread of global epidemic, the GDP of the Country was falling due to wrong policies of the Central Government.
He said that on an annual basis, it was 7 per cent in financial year 2017-18, 6.1 per cent in 2018-19 and 4.2 per cent in 2019-20 whereas all rating agencies have estimated a decline of at least 9–12 per cent in financial year 2020-21, he added.
"At the same time, RBI has also forecast a 9.5 per cent decline. In spite of this, instead of taking any concrete initiative to improve the situation, the Central Government is talking on only futile issues like package of Rs 20 lakh crore, which does not seem to give any relief to the common man, poor, laborers, businessmen, farmers and entrepreneurs," said Oraon .
JPCC Spokesperson, Alok Kumar Dubey said that the way the Central Government announced the lockdown in the entire Country on only four hours notice, it created a crisis situation in the entire Country, employment was snatched, people where stuck at only one place, the entire economy collapsed, factories closed, business stalled. Whereas other developed countries had given four-five days to declare the lockdown in their Country, he added.