New Delhi, June 9 (Agency) Former Congress president Rahul Gandhi on Thursday slammed the Narendra Modi government over increasing inflation “There is a difference between loyalty and performance,” said the congress leader. “The Modi government has neither been faithful to the country, nor the people. I am talking about inflation. If you are thinking that inflation will go down in the near future, you are mistaken. Get ready for the new attack of the Modi government in the coming days,” he said.
“RBI has increased the repo rate by 0.50 percent, which has now increased to 4.90 percent. According to RBI, inflation is going to increase further in 2022-23, while retail inflation will remain 6.7 percent,” he said. Rahul Gandhi added that wrong economic policies of the government has put such a burden of inflation on the common people that it is now becoming unbearable. “Home, auto, personal loan and EMI will be costlier. I want to ask the government, where do the middle class and salaried people go and how do they maintain their families,” he said. The Reserve Bank of India (RBI) on Wednesday hiked policy repo rate by 50 basis points (bps) to 4.90 per cent with immediate effect. Repo rate is the rate at which the banks borrow from the RBI. Higher repo rate would make loans expensive for borrowers, adding to their EMI burdens.