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.
There are a lot of expectations from star batsman Sanju Samson in the five-match T20 series betwe
The campaign to boycott Turkey and Azerbaijan for supporting Pakistan during Operation Sindoor is
The death toll of children due to cold-drying poisoning continues unabated. The death toll in Mad
Clashes broke out between two groups in Karnataka's Mandya district on Wednesday night. Clashes b
The Supreme Court on Monday pronounced its verdict on a petition challenging the validity of the
Kolkata Police has rejected all allegations that they have illegally arrested a 22-year-old femal
The whole country is preparing for celebrations on New Year's Eve. In such a situation, security
Railway Minister Ashwini Vaishnaw told the Lok Sabha on Wednesday that it is mandatory to display
Union Home and Cooperation Minister Amit Shah said that after 75 years of independence, the count
Khushboo Patani: Khushboo got angry over the comment against Aniruddhacharya, warned of legal action
In the case of commenting against spiritual guru Premananda Maharaj, now actress Disha Patani's s
