Congress chief Rahul Gandhi lashed out at the RBI , Reserve Financial institution of India on the newest warning on financial contraction amid the novel coronavirus pandemic, saying “distractions by media can’t assist the poor”.
Rahul Gandhi also raised the questions on the government over the record cash transferal by the RBI, saying that the Prime Minister and the finance minister are “clueless” about solving the “self-created economic disaster” and suspects them of “stealing money” from the bank.
Rahul Gandhi’s response came after the RBI allowed the government to take Rs 1.76 lakh crore from its reserves to provide a fresh push to the economy of India.
The central financial institution stated in its annual report launched on Tuesday and said that due to corona pandemic structural downfall occured in the country.
“RBI has now confirmed what I’ve been warning for months. Govt must: Spend extra, not lend extra. Give cash to the poor, not tax cuts to industrialists. Restart the economic system by consumption. Distractions by media can’t assist the poor or make the financial catastrophe disappear,” the previous Congress chief tweeted.
RBI also said the crisis can be transformed into opportunity by using an online platform to provide the job opportunity and also upgrade the skills of employees and training initiative can be taken for enhancing the skills of the labour force.
They also adopt new learning to maintain a fast pace with job opportunities.
“The worldwide disaster occurred after years of sturdy development with macroeconomic stability; against this, Covid-19 has hit the economic system after consecutive quarters of slowdown,” RBI stated.