- Rahul Gandhi warned of a looming economic crisis and possible Emergency in India
- He claimed BJP removed economic shock absorbers, causing an economic tsunami
- BJP's Amit Malviya refuted claims, citing strong economic indicators and support measures
In a sweeping statement on Wednesday, Leader of Opposition Rahul Gandhi warned that due to a "possible economic crisis", an atmosphere of internal rebellion is building in the country. He further claimed and the government "could impose an Emergency to suppress people's anger".
While addressing an event of the Congress' Tribal wing at the Congress headquarters, Rahul Gandhi claimed that a massive 'economic tsunami' is coming, and the reason is that India's protection system, which served as a "shock absorber against the international economy, has been removed by the ruling BJP".
"A massive economic tsunami is coming, prices are rising and this is just the beginning. India will witness an economic crisis you have never seen before. This is happening, and no one can stop this," he added.
Now, the BJP has hit back at Rahul Gandhi's "economic tsunami" warning. BJP leader Amit Malviya put out a long post on X detailing why Rahul Gandhi was wrong in his prediction and claim that the BJP government has removed economic shock observers.
Stating that the reality is "exactly the opposite of what Rahul Gandhi has stated", Malviya said that economy is facing an external shock, but India is not defenceless.
"The shock absorbers have not been removed. They have been built over the last decade," Malviya posted.
Malviya listed out key indices to emphasise the resilience of Indian economy. He pointed out growing electricity consumption, rising auto sales, Spike in E-way bill generations, contained inflation, foodgrain stocks and forex reserves.
"These are not signs of an economy without shock absorbers. These are signs of resilience," the BJP leader stated. He further listed measures taken by the Government to protect citizens, businesses and jobs such as excise cut on petrol and diesel; support to airlines amid rising fuel prices, and support to MSMEs.
"These are not the actions of a government dismantling shock absorbers. These are the actions of a government actively strengthening them," he said.
Amit Malviya also doled out statistics from the UPA years to bolster his point. "Between 2011 and 2013, the rupee plunged by 36%. Forex reserves declined from around $294 billion in July 2011 to approximately $256 billion in August 2013," he pointed out. "Inflation averaged 8.2% during FY04-FY14 and remained in double digits for much of FY10-FY14."
The BJP leader said that while the Congress weakened India, the Modi Government strengthened India before, during and after repeated shocks -- Covid, the Russia-Ukraine conflict, crude spikes, global rate hikes, supply-chain disruptions and now instability in West Asia.
Malviya asked Rahul Gandhi to "stop selling panic".
The Congress leader on Wednesday had also claimed that Prime Minister Narendra Modi may impose Emergency in the country amid the crisis. "What may happen is that they may try to suppress the public pressure and impose something like an Emergency. That is possible," he had said.
The statement also drew sharp retort from the BJP and its NDA allies. Union Minister and JDU MP Lalan Singh reminded Rahul Gandhi that it was his grandmother who brought about the Emergency. "That is precisely why Emergency keeps constantly replaying in his mind. PM Modi, on the other hand, believes in democracy and in the rule of the people. These people (Congress) believe in dynastic and in monarchical rule," he stated.
Telangana BJP chief N Ramchander Rao also hit out at Rahul Gandhi over the "Emergency" comment saying that "it is the Congress party that has an Emergency mindset".
