Demonetisation hit Indian economy much before COVID-19, says KTR

Hyderabad: Continuing his scathing attack on the BJP-led NDA government, KT Rama Rao, Minister of Industries and IT, on Wednesday said the country’s economy was hit even before the Covid-19 pandemic.

During the Hushaar Hyderabad programme here, Rao said that the downturn in the economy had started long before the lockdown was declared.

The lockout ended in eight consecutive quarters of slowdown, which resulted in a spell of recession.

This is because small, micro and medium businesses were badly affected by demonetisation and the rising economy was badly hit. Today, the effects of it are seen and it has been further hit by the lockout,’ Rao said.

He wondered and challenged the audience over how many people have gained from the NDA government’s announced Rs.20 lakh crore stimulus package. (INN)