AGARTALA, OCT 11 (TIWN) : CM Biplab Kumar Deb, on Thursday while adressing the 'Angikar' programme of Urban Development at Town Hall, said that although the whole world is undergoing massive economic crisis situation but could not touch India as Modi Govt ripped the corporate taxes before it could effect India. But the data report displayed by RBI , is certainly not matching with his words.

The latest annual report of the RBI for the fiscal year 2018-19 (or FY19) confirmed that the Indian economy has indeed hit a rough patch. The GDP growth rate of the economy has slipped to 5 per cent in the first quarter of FY20, the lowest in over six years. Multiple datasets released recently show that the Indian economy is facing a multi-year slowdown. Where the whole nation is heading to face a hursh situation, we find a different tone in our CM's voice.

He said, " Modi Govt has proven how to save the economy by increasing 24,000 crore foreign economy via slashing of corporate taxes. "  He also hit the Communists by saying that the communists only know to read theories which are practically impossible.

However, the CPM General Secretary Sitaram Yechury alleged, "The country has entered a stage of recession with factories in large numbers being shut down and huge retrenchment of employees taking place.
Besides, farmers suicides continued and the country's growth rate had fallen steeply and this scenario had clearly marked that the country was in a stage of recession with factories in large numbers being shut down and huge retrenchment of employees taking place."