Kharge Attacks Central Government Over Economic Turmoil

Congress Chief Mallikarjun Kharge criticized the central government for the economic turmoil affecting common people. He pointed out seven indicators highlighting issues such as increasing gold loans, declining car sales, slow wage growth, high food inflation, and low household savings, blaming the Modi administration for the crisis.

Congress Chief Mallikarjun Kharge launched a scathing critique of the central government on Thursday, accusing it of creating economic turmoil that has deeply affected ordinary citizens' lives. In a statement on X, Kharge alleged that the Modi government has been ineffective in addressing this financial turbulence.

Highlighting key economic indicators, Kharge pointed out a significant increase in gold loans and non-performing gold loan assets, with household consumption failing to return to pre-COVID-19 levels over the last eight quarters. He emphasized that these figures showcase the severity of the economic disruption faced by ordinary Indians.

Kharge further noted the stagnation in car sales, marking their lowest growth in four years. He criticized the modest 0.8% annual wage growth in major industrial sectors over the past five years and called attention to persistently high food inflation and indirect taxation depleting household savings. He also raised concerns over household financial liabilities reaching 6.4% of GDP, the rupee's record-low valuation prompting foreign fund withdrawals, and the losses incurred by small investors.

(With inputs from agencies.)