Heartbreaking inflation has created a financial emergency: Rahul Gandhi
NEW DELHI: Congress leader Rahul Gandhi On Tuesday, he said that rising commodity prices and unemployment have led the country into a state of financial emergency.
He accused the prime minister Narendra Modi to snatch the bread of the poor and break the internal budget of the Indians.
Bullfighter inflation , life-threatening unemployment and the fall in GDP has created a state of financial emergency. The increase in the prices of vegetables, legumes, edible oil, LPG gas and other foods has taken the bread and butter of the poor. Modi ji has broken the national budgets of the countrymen, said Gandhi.
Retail inflation rose to about five-and-half year high of 7.35 per cent in December 2019, surpassing the RBI's comfort level, mainly due to spiralling prices of vegetables as onions were selling costlier.
The unexpected jump in inflation diminished the chances of the RBI cutting interest rate at its next monetary policy review due in early February.
As per data released by the National Statistical Office (NSO) on Monday, the spike in inflation in the vegetable segment was 60.5 per cent during the month compared to December 2018.