Congress Calls for New Economic Approach Amid Critique of Modi's Policies

Congress has accused India of being stuck in a low-investment cycle since 2014 due to erratic policies and cronyism. They argue that the country needs a new liberalised political economy. Ahead of the Union Budget, Congress general secretary Jairam Ramesh emphasized the low investment rate as the main reason for slower growth.

India has been trapped in a cycle of low investment since 2014, claimed the Congress on Wednesday, attributing it to erratic policies, rampant cronyism, and the 'ED/IT/CBI raid raj.' They called for a new liberalised approach to the political economy.

Speaking ahead of the Union Budget presentation, Congress communication head Jairam Ramesh highlighted that the sluggish investment rate is a crucial factor behind India's inability to achieve faster growth since 2014.

Ramesh explained that decreased investments are hindering GDP growth and, consequently, wage and consumption growth. He critiqued the Modi government for policies that have stunted private domestic investment and missed opportunities to attract multinational companies divesting from China.