New Delhi, August 31: After the central government revealed that India's GDP to (-) 23.9 per cent during the first quarter (Q1) ended June 2020-21, Congress lawmaker Rahul Gandhi said his warnings were ignored. In a tweet, Rahul Gandhi wrote: "GDP reduces by 24%. The worst in Independent India's history. Unfortunately, the Govt ignored the warnings." He also shared a video of him warning about "economic devastation" back in March.

"India should be preparing itself not just for COVID-19 but for the economic devastation that's coming. I am saying it again and again. I am sorry to say this but our people are going to go through unimaginable pain in the next six months," Rahul Gandhi had said in March while talking about the coronavirus (COVID-19). "I have been warning the government. They are fooling around... they are not clear about what to do," he had added. RBI to Conduct Term Repo Operations for Rs 1 Lakh Crores at Floating Rates in Mid-September to Foster Orderly Market Conditions.

Rahul Gandhi Targets Modi Government Over GDP Decline:

The government's data showed that India's gross domestic product or GDP contracted 23.9 percent in the April-June period - the worst negative growth for the economy since 1996, when India began publishing quarterly figures. The government is attributing the negative growth to the nationwide lockdown imposed in March to contain the spread of coronavirus. It was only on June 1 that partial unlock measures were implemented.

Commenting on the Q1FY21 GDP data, the Chief Economic Adviser to the Government Krishnamurthy Subramanian: "As the world economic outlook has highlighted, the fraction of countries, where GDP per capita would decrease is the highest since 1870, so once in a one and a half-century event, which is what we are going through." "India was also in a 'Lockdown' all through the April-June quarter with the majority of economic activities being restricted, so this trend is along the expected lines," he added.

(The above story first appeared on LatestLY on Aug 31, 2020 08:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).