Inequality on rise, welfare in retreat: Congress slams govt on state of economy | India News
NEW DELHI: Accusing the Modi govt of fudging data to present a rosy picture, Congress on Tuesday expressed concern over the state of the Indian economy in the wake of what it called is questionable growth and production coupled with rising inequality and dimming welfare.Ahead of the President’s joint address to Parliament, economic survey and Union budget, Congress released its “real state of the economy 2026 report” to put “facts” before the people as the govt would indulge in “propaganda” in the coming days.
Congress spokespersons Rajeev Gowda and Amitabh Dubey released the annual report with the title “inequality on the rise, welfare in retreat”.“IMF gave India’s statistics a C grade. 0.5% inflation rate is not the reality of people’s lives. Former economic advisor Arvind Subramanian calculates that GDP figures are at least 2.5% higher than actual reality,” the spokespersons said.Questioning govt data, Gowda said manufacturing in the first half of 2025-26 grew at 8.4%, but the Index of Eight Core Industries showed only 2.9% growth. At the same time, he said the Rupee has been Asia’s worst performing currency in 2025.Congress said the most alarming fact is that between 2017-18 and 2023-24, the share of workers in manufacturing fell from 12.1% to 11.4%, while it rose in agriculture from 44.1% to 46.1%. “Job growth is concentrated in low value, informal, and gig economy,” it said.Expressing concern over “rising inequality”, Gowda said the top 10% capture 58% of national income while the bottom half receives only 15%. He said the top 10% own 65% of India’s wealth. Alongside, he said, four of five Indians subsist on less than Rs 200 per day.Gowda and Dubey said net household financial savings are at a five-decade low of 5.2% while household debt has sharply risen to 41% from 35% in 2019.Congress said the best welfare net for the poor was MGNREGA but the job scheme has now been dismantled which will hurt the deprived sections the most.
