Head of Mallikarjun Kharge and Jairam Ramesh. File | Photo Credit: Hind
Congress on Saturday (June 28, 2025) focusing on Narendra Modi’s economic policy, claiming that “the policy of suppression and oppression” led to slow growth in investment.
“Savings have dried up and household expenditures have been limited in Amrit Kaal,” Mallikarjun Kharge, President of the Party, said in a post on the Social Media platform.
Interest rates from the savings account were the lowest in 25 years and household savings in the lowest in 50 years, with a consistent decline in the last three years, Mr. Kharge said.
“It seems that the government Modi has concluded a contract to choose the public !!” Mr. Kharge said.
Indian economic growth “stubbornly refuses to accelerate the required and perfectly feasible rate,” said Congress Communications Jairam Ramesh in a separate post.
“The most important reason for this failure is that private enterprise investments remain slow, despite the generous tax reduction in September 2019 and PLI (production motivation) cash leaflets. The Modi Govt survey suggests that the private sector capital expenditure may be 25% lower in 2025/26.”
While banks were willing to borrow, companies were not willing to borrow “because the investment environment is not considered to be adjacent to expansion,” Congress’s leader said, quoting informed analysts.
Although there were global uncertainties, the increase in demand in India was detained due to stagnant wages, distorted GST structure and focusing of inequalities, Mr. Ramesh said.
“There is no systematic motivation for businesses in the middle of the widespread slowdown of consumption to invest in the creation of additional capacity. The investment is as influenced by psychological factors,” he said.
“These factors have reached a greater reason because of the chaos created by tax terrorism, playing the system preferred and a sense of fear and uncertainty in the larger corporate world. Eventually, investment depression is inevitable by the policy of the government of Modi,” Ramesh said.
Published – June 28, 2025 17:20
