NEW DELHI: Congress president Mallikarjun Kharge on Thursday criticised the BJP-led central government, accusing it of creating "economic turmoil" that has disrupted the lives of ordinary citizens.
"Modi government has NO economic solution for the economic turmoil it has created!" Kharge wrote in a post on X, pointing to a series of economic indicators that he claimed reflect the severity of the situation.
Kharge outlined seven key indicators that he argued demonstrate the "mess" in the lives of common Indians.
"7 indicators that illustrate the extent of mess in the lives of ordinary Indians. 50 per cent increase in Gold Loans and 30 per cent jump in gold loan NPAs. Private consumption - the total value of goods and services purchased by households has slowed down in the last 8 quarters and has not recovered to pre-Covid levels," Kharge added.
He also pointed to a decline in car sales growth, which he said has plunged to a four-year low, and stagnant wage growth in key sectors.
"Wages grew at a compound annual rate of just 0.8% in the engineering, manufacturing, process, and infrastructure (EMPI) sectors over the past five years (2019-2023)," Kharge mentioned.
The Congress chief further attacked the government for high food inflation, which he said has averaged 7.1% over the last eight quarters, and for indirect taxation through GST on essential items, which he claimed has eroded household savings to a 50-year low.
Kharge also pointed to increasing household financial liabilities, now at 6.4% of GDP, calling it the "highest in decades". He added that the rupee hitting an all-time low has led to foreign fund outflows and substantial losses for small investors.
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