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.

 

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

Virat Kohli Birthday: From scoring a half-century of centuries in ODIs to becoming a world champion, know Kohli's records

Former Indian team captain and star batsman Virat Kohli is celebrating his 36th birthday today. K

'Congress has the right to protest, but not to loot land and money'; BJP's big attack on Congress.

BJP MP Ravi Shankar Prasad addressed a press conference on Congress' announcement of protests out

Rahul Gandhi Birthday: Rahul Gandhi turns 55, PM Modi wishes him in a special way; know what he wrote

Today is the 55th birthday of Congress MP and Leader of Opposition in Lok Sabha Rahul Gandhi. On

PM Modi: 'His life was a symbol of honesty and simplicity', PM Modi became emotional remembering Manmohan Singh

There is a wave of mourning in the whole country due to the death of former Prime Minister Manmoh

Asia Cup: 'He ran away with the trophy,' Suryakumar Yadav accuses Naqvi of serious mischief! He reveals what happened at the awards ceremony.

While the Indian team was awaiting the trophy after defeating Pakistan by five wickets in the Asi

Thalapathy Vijay fell at the airport; the actor was taken home in this condition amidst uncontrollable fans.

South Indian superstar Thalapathy Vijay has such a massive fan following that wherever the actor

IND vs AUS: Is Bumrah injured? He was seen leaving the Sydney Test midway and going to the hospital, Kohli is currently captaining.

The fifth and final match of the five-match Test series between India and Australia is being play

SRH vs LSG Playing-11: What will happen to Lucknow today? Will face Hyderabad with a weak bowling attack, probable-11

Sunrisers Hyderabad will face Lucknow Super Giants in the seventh match of IPL 2025 today. This m

Shreyas Iyer Return Update: When will Shreyas Iyer return? Will he play in the series against South Africa?

Indian cricketer Shreyas Iyer will be out of action for approximately two months. He suffered a s

Who did Saint Premanand first enthrone? He prostrated himself before him and had his feet washed.

This is the eternal tradition: when two prominent practitioners from different sects met, not onl

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