Government must spend extra, not lend extra: Rahul Gandhi

NEW DELHI: Congress chief Rahul Gandhi on Wednesday attacked the federal government over the state of the economic system and mentioned it wants to provide cash to the poor to restart the economic system by consumption.
Gandhi mentioned “distractions” by media will not assist the poor or make the “financial catastrophe disappear”.
His assault on the federal government got here after the Reserve Bank of India (RBI) mentioned on Tuesday that demand within the economic system will take fairly a while to fix and that an evaluation of combination demand through the 12 months up to now means that the shock to consumption is extreme.
“RBI has now confirmed what I’ve been warning for months. Govt must: spend extra, not lend extra,” Gandhi mentioned.
“Give cash to the poor, not tax cuts to industrialists. Restart economic system by consumption,” the previous Congress chief tweeted.

In its newest annual report, the RBI mentioned “deep-seats and wide-ranging” reforms are wanted to regain losses and return to the trail of sustainable financial development.

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