Economic Hardship Unveiled: Real Wages Decline Amid Rising Inflation

The Congress criticized the government, claiming that slow wage growth and high inflation have led to a significant decline in real wages. Congress General Secretary Jairam Ramesh cited various data sources that reflect financial distress among working-class Indians, highlighting that real wages have stagnated or declined under PM Modi's administration.

The Congress on Sunday slammed the government's handling of the economy, asserting that slow wage growth combined with soaring inflation has resulted in a severe drop in real wages.

Congress General Secretary Jairam Ramesh cited a new report from a brokerage firm, emphasizing that the Union Government's refusal to acknowledge the decline in real household incomes is gravely affecting the Indian workforce.

Ramesh pointed to multiple surveys and datasets, such as ASUSE, RBI's KLEMS data, and HCES, which all indicate financial hardship for working-class Indians. Government data shows that labourers' real wages have stagnated or even decreased between 2014-2023. Under PM Modi, real wages for agricultural labourers declined annually by 1.3% compared to a 6.8% rise per year under Dr. Manmohan Singh.

(With inputs from agencies.)