Congress Accuses Modi Government of Economic Mismanagement Amid Rising Household Debt

The Congress party has launched a scathing attack on the Modi government, attributing the Indian economy’s woes to its policies and actions. With household debt reaching an unprecedented 40% of the GDP in December 2023 and net financial savings dwindling to around 5% of the GDP, the Congress asserts that Prime Minister Narendra Modi has turned a blind eye to the alarming indicators. Party leaders, including Congress President Mallikarjun Kharge and general secretary Jairam Ramesh, have lambasted the government for its alleged failures in addressing economic challenges.

They argue that stagnant wages, high inflation, and declining real incomes have forced households into debt, exacerbating the financial strain on ordinary citizens. The Congress further criticizes the government’s purported mishandling of various sectors, leading to widespread distress among women, youth, farmers, and marginalized communities. As the Congress unveils its ‘Nyay Patra’ manifesto, promising relief measures for those affected by economic hardships, it underscores the need for accountability and corrective action to address the growing economic crisis.