Congress president Mallikarjun Kharge on Sunday attacked Prime Minister Narendra Modi over the state of the economy and said his “outdated speeches” repeating the same old things cannot hide his “absolute failures” affecting all aspects of the country’s economy.
“Modenomy is a curse for the Indian economy,” Kharge said in ‘X’. He raised issues such as household debt, rising prices and problems in the manufacturing sector and stated that “Make in India has failed miserably.”
He said, “Narendra Modi ji, your same old lectures, repeated again and again, cannot hide your glaring failures affecting every aspect of the Indian economy.”
Domestic savings at 50-year low: Kharge
Kharge said that in real terms, household liabilities and indebtedness have increased by a whopping 241 per cent between 2013-14 and 2022-23. He said domestic debt as a percentage of GDP is at an all-time high of 40 percent. Kharge said household savings are at their lowest level in 50 years and consumption by Indian households has exceeded their income since the Covid-19 pandemic.
He said, “In September 2024, the price of homemade vegetarian thali increased by 11 per cent compared to last year. BJP imposed inflation and destruction of unorganized sector are responsible for this chaos!
‘Make in India’ has failed miserably in 10 years: Kharge
“Make in India” has failed miserably in 10 years as its policies have wiped out the gains from India’s growing exports during the Congress and UPA government,” Kharge said.
He said, “’India’s Export Growth’ – Congress-UPA: 2004 to 2009 -186.59 per cent, 2009 to 2014 -94.39 per cent; BJP-NDA: 2014-2019 – 21.14 per cent, 2019-2023 – 56.8 per cent.”
The Congress president said, “It is not surprising that the average growth rate of the manufacturing sector between 2014-15 and 2023-24 is only 3.1 per cent (BJP-National Democratic Alliance), while the average growth rate between 2004-05 and 2013-14 The rate was 7.85 percent (Congress-United Progressive Alliance).”
Kharge said this “disastrous policy” has reduced the proportion of workers employed in the manufacturing sector from 15.85 per cent (2017-18) to 11.4 per cent (2023-24).
Diamond workers face challenges: Kharge
The Congress president said diamond workers in Surat are facing challenges as their salaries have been reduced by up to 30 per cent and major diamond units are forced to work only four days a week.
He claimed that more than 60 diamond artisans have committed suicide in the last six months.
“In their campaign to corner the Congress Party on MNREGA, they have deliberately not allocated more funds for this demand-driven scheme,” Kharge said.
“Your government has artificially reduced demand by delaying salaries and not providing timely funds to opposition (ruled) states,” the Congress leader said.
He said the demand for work under MNREGA dropped to just 1.6 crore in August 2024, which is the lowest monthly demand since October 2022.
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