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

Bihar CM Oath: The NDA is compelled to field ministers from 11 districts; where will the change happen? This is the gift of the Bihar election results.

The 2025 Bihar Assembly Elections have presented the National Democratic Alliance with a signific

Atul Subhash Case: 'Child should not be allowed to be used for bail', Atul's lawyer argues on Nikita's plea

A big update is coming out on the Atul Subhash suicide case. In the case, Akash Jindal, the lawye

Constitution Day: 'Our Constitution is a living and progressive document', said the President in the joint session of Parliament

Today, on the occasion of Constitution Day, President Draupadi Murmu addressed the joint session

Salman Khan showed his fierce style amidst receiving death threats, and silenced everyone with his latest post!

'Salman Khan has grown old', 'He needs to focus on his fitness a little'... Those giving such adv

UP Board exams begin: Candidates welcomed at exam centres with flower showers and tilak (vermilion mark).

The Uttar Pradesh Board of Secondary Education's 10th and 12th board exams begin today. Students

Delhi Air Pollution: Capital's air quality again 'very poor', AQI 371 in Anand Vihar; Check out the condition of other areas

Air pollution levels in the national capital, Delhi, continue to remain alarming. According to th

Aparajita Bill: Now rapists will be hanged; What is in Bengal's Aparajita Bill, how is it different from BNS-POCSO?

The West Bengal Assembly on Tuesday unanimously passed the anti-rape bill. The bill provides for

PM Modi congratulated Tarique Rahman on his victory, saying India will stand with Bangladesh.

Counting of votes is underway after the Bangladesh elections. Tarique Rahman, who returned to Ban

Diljit Dosanjh paid tribute to Ratan Tata in a live concert, and stopped the show midway.

Indian business tycoon Ratan Naval Tata has passed away at the age of 86. He breathed his last at

Preity Zinta: Preity Zinta looked sad on the defeat of her team PBKS, but still patted Shreyas Iyer on the back

On Tuesday, the final match of IPL was played between PBKS i.e. Punjab Kings and RCB i.e. Royal C

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