Investment Confidence Crisis: India's Economic Challenge

The Congress has criticized the Modi government for its policies that allegedly damage investor confidence in India, leading to a decline in private investment and manufacturing jobs. They argue that a complicated tax regime, strong Chinese imports, and stagnant wages are key contributors to this economic challenge.

The Congress party has voiced strong criticism of the Modi government's policies, claiming they have shattered investor confidence in India. According to the opposition, these policies have transformed the 'ease of doing business' into 'unease in doing business', urging the upcoming budget to address these issues.

Jairam Ramesh, Congress General Secretary, noted a significant decline in private domestic investment, accompanied by the exodus of high-net-worth individuals. The party attributes this to a complex tax system, rising Chinese imports, and stagnant wages, which have collectively weakened India's manufacturing sector and consumed growth.

Ramesh emphasizes that the upcoming budget must tackle 'raid raj' and 'Tax Terrorism', safeguard manufacturing jobs, and boost wages to reinvigorate private investment. The Congress insists that radical measures are imperative to restore investor confidence and stimulate economic growth.

(With inputs from agencies.)