Given the state assembly elections, Congress has once again targeted the Modi government, claiming that the challenging state of the economy has increased difficulties in the daily life of the common people. Citing the estimates and figures of some external financial agencies, the party said that the real domestic income of the people in the country has declined due to the backbreaking inflation amid extremely slow increases in salaries and wages.
The party alleged that the attitude of the central government regarding the fact of unprecedented decline in real income compared to inflation is like that of an "ostrich" and it is indifferent to the most basic challenges of the economy. After the success in keeping the issue of inflation and unemployment at the center of the electoral debate in the Lok Sabha elections, the party is continuously trying to surround the government aggressively on issues related to the public.
Wages decreased due to inflation - Jairam Ramesh
In a statement issued on Sunday, Congress Communication General Secretary Jairam Ramesh, citing a new report of a well-known brokerage firm, said that the real domestic income in India is continuously declining. Real wages have fallen significantly due to slow wage growth and backbreaking inflation. Several surveys and data - including the Annual Survey of Unregistered Industries, Reserve Bank's KLEMS, and Household Consumer Expenditure Survey - reflect the deepening financial crisis faced by the working class.
Jayaram said that the government's official data also clearly proves that the purchasing power of workers has decreased today compared to 10 years ago. The Labor Bureau's Wage Rate Index shows that the real wages of workers remained stagnant between 2014-2023 and declined between 2019-2024. According to the Congress General Secretary, it is clear from the data of the Agriculture Ministry that while the real wages of agricultural laborers increased at the rate of 6.8 percent every year during the tenure of the Manmohan government, the real wages of agricultural laborers declined by -1.3 percent every year under the Modi government.
Why has private investment remained sluggish?
Asking four questions to the Prime Minister and his ministers about these challenges of the economy, Jairam said that the government should explain why private investment remains sluggish and why the share of the private sector in overall investment has fallen to the lowest level in the last four years.
Secondly, why is consumption growth so weak and why did private final consumption expenditure grow only around 4 percent in FY 2024? The government should also explain why real wages are stagnant or why are they declining. Jairam said that the percentage share of the manufacturing sector in GDP has fallen from 16.5 percent during the UPA tenure to 14.5 percent today and the government should clarify its stand on why this decline is particularly sharp in labor-intensive manufacturing such as textiles.
US President Donald Trump made several important decisions after taking the oath of office. The T
The Maha Kumbh (Mahakumbh 2025) started with the holy dip of Paush Purnima on Monday at the Trive
'This is Modi's war...', US connects India with Russia-Ukraine war amid tariff war
Hours after US President Donald Trump imposed a massive 50 per cent tariff on India, his trade ad
The fifth and final match of the five-match T20 series between India and South Africa will be pla
Chhath, the grand festival of sun worship, is being celebrated across the country. This festival,
In comedian Samay Raina's YouTube show 'India's Got Latent', Ranveer Allahabadia made objectionab
Metro In Dino X: Audience liked Anurag Basu's 'Metro In Dino', called it a heart-touching film
Anurag Basu's film 'Metro In Dino' has been released in theatres today. This film is one of the m
Sports Day is celebrated every year on 29 August in the country on the birth anniversary of Hocke
Union Minister Kiren Rijiju on Tuesday targeted Bengal Chief Minister Mamata Banerjee for refusin
Today marks the beginning of the last month of the year, December. This year, however, could have
