Criticism on Economic Revival: Congress vs Government Policies

The Congress criticizes the Centre's economic strategies, claiming policies like corporate tax cuts and increased tax burdens on the middle class benefit large monopolies rather than invigorate the economy. To stimulate demand, they advocate for tax cuts for the salaried middle class and income support for the poor.

Amidst a backdrop of economic sluggishness, the Congress has sharply criticized the government's fiscal strategies. The main contention lies in policies such as slashing corporate taxes and imposing higher taxes on the middle class, which Congress argues cater mainly to large corporations.

Jairam Ramesh, the Congress general secretary, noted the significant growth in corporate profits alongside stagnant salaries, suggesting that a more equitable distribution is needed. He emphasized that fostering demand requires tax relief for middle-income earners and financial support for the economically disadvantaged.

The accusations of economic mismanagement come at a time of slowed growth, with Congress urging decisive changes to government policies to tackle rising inflation, unemployment, and stagnant wage growth.

(With inputs from agencies.)