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.
The number of active cases of Covid in India has increased to 3,961. The Union Health Ministry re
The Odisha and Bengal governments are on high alert regarding cyclone Dana. The central governmen
The 18th season of IPL has not been anything special for five-time champion Chennai Super Kings (
Prime Minister Narendra Modi has inaugurated the Advantage Assam 2.0 summit today. Many Union Min
Mumbai terror attack conspirator Tahawwur Rana had helped co-conspirator David Komlan Headley to
Comedian Samay Raina's statement is to be recorded on the YouTube show 'India's Got Latent' contr
Indian cricket team's star spinner Kuldeep Yadav is set to tie the knot soon. He will tie the kno
Indian cricketer Shreyas Iyer will be out of action for approximately two months. He suffered a s
Salman Khan's security has been given top priority amid threats from the Lawrence Bishnoi gang in
Amidst the ongoing controversy over the film 'Udaipur Files', the film's producer Amit Jani met I
