India in ‘technical recession’, RBI ‘nowcast’ shows; Rahul blames PM Modi

India’s economy reportedly shrank for a second straight quarter, according to a team of economists which included the central bank’s deputy governor in charge of monetary policy. Gross domestic product growth rate contracted 8.6% in the quarter ended September, the Reserve Bank of India showed in its first ever published ‘nowcast,’ which is an estimate based on high-frequency data. ‘India has entered a technical recession in the first half of 2020-21 for the first time in its history,’ the authors wrote. Meanwhile, Congress leader Rahul Gandhi lashed out at PM Modi and said that the Prime Minister’s actions have turned India’s strength into its weakness.

Видео India in ‘technical recession’, RBI ‘nowcast’ shows; Rahul blames PM Modi канала Hindustan Times