Congress calls GDP numbers a “very distorted picture” of the economy

Congress President Jairam Ramesh. File | Photo credit: The Hindu

The Congress on Monday (31 Aug 2026) questioned the 7.8% GDP growth recorded in the April-June quarter, with party communications chief Jairam Ramesh describing the figures as “GDP – a grossly distorted picture” of the state of the economy.

In a post on X, Mr. Ramesh said the quarterly numbers did not reflect “decidedly depressed” private investment sentiment among both domestic and foreign investors. He said consumer confidence has fallen to its lowest level since the COVID-19 pandemic, while prices for household essentials are rising and educated unemployment remains at alarming levels.

Quarterly GDP numbers, as they are reported, represent the GDP – a highly distorted picture – of the economy.

They definitely do not express the depressed sentiment of private investment in the economy – domestic and foreign.

Consumer confidence is very slow and will hit…

— Jairam Ramesh (@Jairam_Ramesh) August 31, 2026

“This is a case of premature celebration on the part of the prime minister,” he said.

Mr Ramesh also highlighted the trade deficit with China, declining household savings and record levels of household debt. He argued that the concentration of key sectors in the hands of a few large conglomerates had exacerbated inequality, arguing that the wealth of India’s five richest families had soared even as real wages fell.

Published – 01 Sep 2026 00:00 IST