Congress leader Rahul Gandhi on Thursday trained his guns on the government over the state of the economy. Rahul claimed that the country has entered into a recession for the first time in history due to the retrograde policies of Prime Minister Narendra Modi. “India has entered into recession for the first time in history. Mr. Modi’s actions have turned India’s strength into its weakness,” Rahul said on Twitter.
Rahul quoted a news report wherein the Reserve Bank of India has said that the country’s GDP is likely to contract by 8.6 per cent in the July-September quarter, which means the Indian economy is likely to enter into a technical recession for the first time in history.
Finance Minister Nirmala Sitharaman who addressed a press conference today shared positive news on the contrary. She said that the BJP Government has announced Rs 900 crore R&D grant for COVID-19 vaccine development.
The Union Finance Minister in her address to the press said the Centre has announced another stimulus package, as a part of Atmanirbhar Bharat 3.0.
She said the economy is witnessing strong recovery, and COVID-19 active cases are also declining. The government measures will pay attention to the sectors worst hit by the pandemic and lockdown, and will list out infrastructure projects which will be expedited to boost job creation.
The announcement comes shortly after the Union Cabinet approved the Production-Linked Incentive (PLI) scheme for 10 sectors on November 11.
She iterated that the Production Linked Incentive (PLI) worth Rs 1.46 lakh crore is being offered to 10 champion sectors. A total amount of nearly 1.5 lakh crore has been earmarked across sectors, for next five years, she said.