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GDP contractions: Modi govt. did nothing to stop slide, says Chidambaram

Former Finance Minister P. Chidambaram on Monday said the provisional estimates for the first quarter of April to June didn’t come as a surprise as the Narendra Modi government ‘did nothing’ to stop the slide.

Most parts of the first quarter had seen a freeze in the economic activity under lockdown beginning March 25 because of the pandemic.

“The GDP reduces by 24%. The worst in independent India’s history. Unfortunately, the Govt ignored the warnings,” former Congress chief Rahul Gandhi said in a separate tweet and tagged his own video of March 17 in which he predicted “an economic tsunami and large scale devastation”.

“The estimates do not come as a surprise to us. They should be a matter of surprise to the government that was seeing ‘green shoots’ on several days during the first quarter. They should also be a matter of shame to the government that did nothing

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