If the country's economy is strong, why is its impact not visible on the ground: Congress
Awaz E Bihar••18 views•3 min read
The Congress has slammed the Modi government over the economy, asking that the government is celebrating the Gross Domestic Product (GDP) figures but if the economy is so strong, why its impact is not visible in the lives of common people. Congress media panelist Salman Suz said at a press conference at the party headquarters here on Tuesday that if the economy is performing well, why are families borrowing to meet their expenses, why rural labor has grown marginally compared to inflation in the last decade and private investment has remained stable. He said that people don't just believe the figures, but want to know why the benefits of the alleged strengthening of the economy are not being seen on the ground. Mr Souz questioned why the country has zero net foreign direct investment (FDI) as a share of GDP and why the youth unemployment rate remains at 16 per cent. He said that in the year 2026, about Rs 250 lakh crore has been withdrawn from the Indian equity market so far. He questioned Prime Minister Narendra Modi that if the country's economy is growing at such a good pace, why investors are withdrawing their money from here. He also asked that if the economy is so strong, why its share in exports is so low compared to earlier. The Congress leader said that when the rupee was around Rs 58 against the dollar, Mr Modi and Bharatiya Janata Party leaders used to say that the rupee was 'on ventilator', but today the rupee has reached around Rs 95. He said that the people of the country cannot be satisfied with economic figures alone. People want to know that if the economy is so strong, why its impact is not visible on the ground. There are still many problems in the country and the problems may increase in the future but the government is not aware of it and is just selling figures. Congress is of the opinion that Mr. Modi should understand the ground reality and know his condition from the people. Meanwhile, Congress communication in-charge Jairam Ramesh said that the GDP figures are just 'statistical gymnastics' and the government is repeatedly changing the methodology to fix the GDP figures and hide the poor economic reality of the country. He said that the gap between nominal and real GDP reflects inflation and according to the government this gap is only 2.3 percent, while the wholesale price index (WPI) inflation in this quarter has been more than nine percent. Calling it a clear contradiction, he alleged that this situation has been created by the Modi government by changing the method of calculation. He said that 'Make in India' has achieved very little but Modi government's flagship 'Fake in India' scheme continues unabated.