Rahul Gandhi predicts massive unemployment, blames PM Modi, says 'wait for 6-7 months'

On Thursday, former Congress president Rahul Gandhi accused Prime Minister Narendra Modi of destroying urganised sector of ecomy. Mentioning that this sector accounts for 90% of total employment in country, he predicted that India will be unable to provide jobs to youth. He claimed that many companies will collapse one by one after moratorium period ends.  Gandhi recalled that his warning of heavy loss to ecomy at vent of COVID-19 crisis went unheeded. Elaborating on his point, Wayan MP contended that key employers such as small and medium businesses can't give jobs as y mselves have been "destroyed". 

Rahul Gandhi remarked, " urganised sector contributes 90% of employment to Indians. y comprise small businessmen, middle-sized businessmen, farmers. Narendra Modi destroyed this system. w see, when moratorium ends, companies will collapse one by one. Small and medium businesses will be finished."

"This country will t be able to give jobs to youth in coming future. I h warned that after vent of COVID-19 crisis, re will be a heavy loss. Don't believe me w. Wait for 6-7 months. Employers like small and medium businesses can't give jobs because y have mselves been destroyed," he ded.

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Congress raises concerns over ecomy

Currently, re are 6,86,395 active cases in India while 20,96,664 patients have been discharged and 53,866 fatalities have been reported. In last few days, Congress has been at forefront of questioning state of Indian ecomy. In a recent article, former Prime Minister Manmohan Singh and Congress office-bearer Praveen Chakravarthy ted that India has been impacted ecomically due to COVID-19 crisis. y stressed that foundation to revive ecomy is by injecting confidence in entire ecosystem. Backing idea of direct cash assistance to poor people, Congress leers reckoned that this move can help m wear vel coronavirus crisis

Moreover, y called upon Centre to allow institutions such as public sector banks, RBI, bankruptcy boards and securities and insurance regulators to function freely and professionally. former PM and Chakravarthy observed that this was foundational step to restore confidence in financial system. reafter, y urged Union government to borrow money via loan programmes of International Monetary Fund and World Bank.

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(Im credits: PTI)