PM Narendra Modi
PM Narendra Modi
ANI Photo

The COVID-19 pandemic-induced economic turbulence, along with measures to curb its outbreak, heavily dented India's economy and the country's Gross Domestic Product (GDP) growth contracted by -23.9 per cent during the first quarter (Q1) of 2020-21 on a year-on-year basis.

According to the National Statistical Office (NSO), the Gross Domestic Product (GDP) at 'Constant (2011-12) Prices' in Q1 of 2020-21 is estimated at Rs 26.90 lakh crore, as against Rs 35.35 lakh crore in Q1 of 2019-20, showing a decline of 23.9 per cent.

Meanwhile, the Congress attacked the Central Government soon after the GDP growth plunged. Addressing a virtual press conference, former Finance Minister P. Chidambaram said that it will take months for India's economy to register positive growth.

The former finance minister said that the decline meant that "about one quarter of the gross domestic output as on June 30, 2019, has been wiped out in the last 12 months. Another way of looking at it is, since the end of 2019-20, the gross domestic output has fallen by about 20 per cent."

He pointed out that agriculture, forestry and fishing are the only sectors which have grown in the quarter while a "sharp decline" has been noticed in manufacturing, construction, trade, hotels, and transport among others.

As the GDP growth contracted by -23.9%, Twitterati mocked PM Modi. #ModiHaiToMumkinHai began trending on Twitter on Tuesday morning.

Here are a few Twitter reactions:

(With input from agencies)

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Free Press Journal