Rahul Gandhi states RBI has confirmed what he warned months ago.

RBI warned of an economic contraction till September and Rahul Gandhi said that he has been warning the same for months.

On Wednesday Congress leader, in an all-out attack, said that “distractions through media won’t help poor people” as he tweeted about the Reserve Bank of India‘s most recent warning on monetary constriction amid the novel coronavirus pandemic. 

Rahul Gandhi says distractions through media won’t help the failing economy:

“RBI has now affirmed what I have been cautioning for months,” the 50-year-old ex-Congress president tweeted alongside a news report. He at that point made a couple of proposals. “Government needs to: Spend more, not loan more. Offer cash to poor people, not tax breaks to industrialists. Restart economy by consumption.” “Distractions through media won’t help poor people or cause the financial fiasco to vanish,” he included. On Tuesday, the RBI cautioned of economic contraction till September. “More extended spread of the coronavirus pandemic, deviations of the monsoon from the anticipated normal downpours and worldwide budgetary market instability are key drawback dangers to development,” the national bank said in its yearly record. 

Supply of notes affected due to the pandemic says RBI:

The pandemic has affected more than 200 nations, carrying financial activity to a stop, the RBI said. The central bank likewise said that because of the COVID-19 pandemic, the supply of notes was affected. “The supply of banknotes during 2019-20 was additionally lower by 23.3 percent than in the earlier year predominantly because of the disruptions caused by the outbreak of COVID-19 and the following lockdown,” the report said. BJP, however, has dismissed the Congress heads’ remarks. A week ago, BJP boss JP Nadda lashed out at Rahul Gandhi, portraying him as “the prince of incompetence”, considering him a “failure” and blaming him for “spreading fake news” over Mr Gandhi’s attack on PM CARES Fund.