Congress questions the Centre over the fall in wages and salaries in comparison to inflation, and says the government is indifferent to the challenges of the economy


Posted on 26th Aug 2024 11:46 am by rohit kumar

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.

 

Did you know?Explore Trending and Topic pages for more stories like this.

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.

 

Also Read: Supreme Court: '14 hours delay in filing FIR is a serious matter', Supreme Court questions Mamata government

1 Like 0 Dislike
Previous news Next news
Other news

Pilibhit Encounter: Another new revelation, Pakistani connection of weapons recovered from terrorists!...secrets are buried in the phone

Two Glock pistols and other weapons recovered from the terrorists killed in a joint operation by

Mohsin Naqvi's Warning: If Players Abandon the PSL Mid-Season to Rush to the IPL, They Will Have to Face the Consequences.

Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi has issued a stern warning to foreign players

Temperatures Set to Soar from Delhi to UP and Bihar; Heatwave Alert Issued for 8 States; Maharashtra Government Releases SOP for Heatwaves.

As the month of April progresses, a continuous rise in temperature is being observed. According t

AC Cooling Slowly? Use This Powerful Mode to Cool Your Room in Minutes

With temperatures soaring across many parts of the country, air conditioners are working overtime

Big Relief for Fuel Consumers: Excise Duty Removed on E22 to E30 Ethanol Petrol, Know the Impact

In a significant move aimed at reducing India's dependence on imported crude oil and accelerating

Manmohan Singh: Supriya Shrinet praises Diljit Dosanjh and appreciates him for dedicating a concert to the former PM

Singer Diljit Dosanjh dedicated his concert in Guwahati to former Prime Minister Manmohan Singh.

Pollution in Delhi-NCR is out of control, with AQI exceeding 500 in many areas; GRAP-3 restrictions ineffective.

The air in Delhi-NCR has once again become a burden on people's breathing. Due to the drop in tem

Maha Kumbh: So far 1 crore 60 lakh people have taken Amrit Snan in Maha Kumbh, Naga sadhus demonstrated the art of war

A sea of ​​people from the country and the world gathered for the Mahasnan of Mahakumbh in Ti

Rohit Sharma: Not Virat-Bumrah, Indian captain Rohit Sharma gave credit to these three people for winning the T20 World Cup

Indian team captain Rohit Sharma said on Wednesday that former head coach Rahul Dravid, selection

Why Did the Employees' Protest in Noida Turn Violent? From EPF, ESI, and Salary Hikes to Gratuity... What Are Their Demands?

On Monday—the first day of the week—employees across various locations in Noida creat

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash