Inequality and Financialisation Threaten India's Growth

The Congress has criticized the government's approach to the economy, highlighting issues such as inequality, wage stagnation, and inflation as threats to India's growth. They pointed to a shift towards financial investments and away from physical investments amid rising passive income shares, urging government intervention.

The Congress has voiced concerns over the government's economic strategies, labeling inequality, wage stagnation, and inflation as significant threats to India's future growth.

Jairam Ramesh, the party's communications general secretary, emphasized the critical need for boosting private investment rates to drive economic growth, noting their decline from 33.4% to 28.7% over the past decade.

Highlighting a public finance economist's article, Ramesh pointed out the worrying rise in passive income shares versus declining physical investments, driven by weak post-pandemic demand. The Congress urges the government to act, underscoring rising unemployment and price hikes as additional economic threats.