Rahul Gandhi Tweets 'People's Confidence at All-Time Low, Fear And Insecurities at All-Time High', Cites RBI Survey on Consumer Confidence

New Delhi, August 7: Referring to a survey report of the Reserve Bank of India that showed India’s consumer confidence at an all-time low, Congress lawmaker Rahul Gandhi on Friday said it shows "real mood of the nation". Sharing a graph which showed plummeting consumer confidence, Rahul Gandhi said fear and insecurities are at an all-time high. He added that India might see more bad news relating to economy and employment. Rahul Gandhi Takes Poetic Jibe at PM Narendra Modi as COVID-19 Figures Cross 20 Lakh, Says 'Gayab Hai Modi Sarkar'.

"RBI reveals the real 'Mood of the Nation': People's confidence at all time low.

Fear and insecurity at all time high. Expect more bad news on the economy and jobs front (sic)," Rahul Gandhi tweeted. According to RBI’s forward-looking survey released on Thursday, the current situation index dropped to 53.8 in July from 63.7 in May. The future expectations index (FEI), however, indicated signs of recovery for the year ahead. Rahul Gandhi Hits Out at Modi Govt For Removing Document on Chinese Intrusions in Ladakh From Defence Ministry's Website, Tweets 'PM Lacks Courage to Even Name China'.

Rahul Gandhi Tweets on RBI Consumer Confidence Report:

"Consumer perception of the prevailing economic situation, employment scenario, and own income was significantly lower than that in May 2020. Respondents were, however, somewhat optimistic about these parameters for the coming year vis-a-vis the previous survey round," the RBI survey said. RBI Governor Shaktikanta Das also reiterated that the real GDP growth rate in FY 2020-21 is expected to be negative.

(The above story first appeared on LatestLY on Aug 07, 2020 04:51 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).