Congress chief Rahul Gandhi (File picture)
NEW DELHI: Rahul Gandhi, chief of opposition in Lok Sabha, took a swipe on the central authorities on Sunday over the dip in Gross Home Product (GDP) progress charge, which slumped to seven-quarter low of 5.4 per cent.Criticising the federal government over the regarding GDP information, the Congress chief claimed that the “Indian economy cannot progress as long as only handful of billionaires are benefitted from it, while the farmers, labourers and middle class are struggling with various economic distresses”.Rahul Gandhi listed additionally out the completely different information to substantiate its claims and stated that within the “last five years, the income of laborers, employees and small businessmen has either stagnated or reduced significantly”.“Retail inflation has risen to a 14-month high of 6.21 per cent. The price of potatoes and onions has increased by almost 50 per cent this year compared to October last year. Rupee has reached its lowest level of 84.50. Unemployment has already broken the record of 45 years,” Rahul Gandhi wrote on X. Rahul Gandhi claimed that demand has additionally taken successful attributable to fall in revenue. He stated attributable to measures like demonetisation and introduction of GST, the share of producing within the economic system has fallen to its lowest in 50 years.“Demand has also declined due to reduced income. The share of cars priced below Rs 10 lakh in sales has dropped to less than 50 per cent, from 80 per cent in 2018-19. The share of affordable homes in total sales has dropped to around 22 per cent from 38 per cent last year. The demand for FMCG products is already declining,” he stated. The Congress chief furhter wrote: “The share of corporate tax has decreased by 7 per cent in the last 10 years, while income tax has increased by 11 per cent. Due to demonetisation and GST, the share of manufacturing in the economy has fallen to just 13 per cent, the lowest in 50 years. In such a situation, how will new job opportunities be created?”
Based mostly on the information he shared, the Congress chief stated the “India’s economy needs a new thinking and a new deal as businesses is an important part of it. Everyone will get an equal opportunity to move forward, only then will the wheel of our economy move forward”.Information launched by the Nationwide Statistics Workplace on Saturday confirmed GDP grew by 5.4 per cent within the three months to September, slower than the 6.7 per cent within the April-June interval and under the 8.1 per cent recorded within the second quarter of 2023-24.
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