Congress Blasts Government Over Stagnant Wages Amid Economic Slowdown

The Congress criticized the government for India's economic slowdown, highlighting stagnant wages as the root cause. The GDP growth dropped to 5.4% with stagnant or declining real wages across sectors. Without increased consumption, private sector investment remains sluggish, risking India's long-term economic potential, asserts Congress leader Jairam Ramesh.

In a scathing critique of the government, the Congress has zeroed in on stagnant wages as the primary culprit for the recent economic slowdown. India's GDP growth slumped to a near two-year low of 5.4% in the July-September quarter, leading to concerns over medium and long-term economic potential.

Jairam Ramesh, Congress general secretary in charge of communications, pointed out that the non-biological Prime Minister and his supporters appear unaware of the underlying issues. Highlighting a report by India Ratings and Research, Ramesh stressed that overall real wage growth in India has been flat at 0.01% for the last five years.

Ramesh noted that stagnant real wages have diminished consumption, subsequently affecting private sector investment and hindering accelerated economic growth. He questioned how long this grim reality will be ignored by the government and warned of eroding economic potential for the country.

(With inputs from agencies.)