Former Congress president Rahul Gandhi said on Friday that the Reserve Bank of India (RBI) has predicted the GDP growth rate to be negative, the central bank has revealed the true mood of the country.
He tweeted, ‘RBI has revealed the true mood of the country. People’s trust is at the lowest level ever. Fear and insecurity are at the highest level ever. ‘
The Congress leader claimed, “More bad news is expected on the economy front”. Significantly, Reserve Bank Governor Shaktikanta Das on Thursday warned that if the infection of the Covid-19 epidemic is prolonged, it can worsen the condition of the domestic economy. He also said that the central bank will use the available monetary scope judiciously to accelerate economic growth. The Governor said during the bi-monthly monetary policy review that although the economic growth will be negative in the current financial year, if the epidemic is controlled first, it will have a ‘favorable’ effect on the economy.
The six-member Monetary Policy Committee (MPC) headed by Das decided to keep the policy rate unchanged after a three-day meeting.
RBI reveals the real 'Mood of the Nation':— Rahul Gandhi (@RahulGandhi) August 7, 2020
People's confidence at all time low.
Fear and insecurity at all time high.
Expect more bad news on the economy and jobs front. pic.twitter.com/zaOWwwys8d