Congress Slammed Modi Over Economic Growth Slowdown

The Indian National Congress criticized the government following a drop in economic growth to a near two-year low of 5.4% in July-September. Jairam Ramesh argued the figures illustrate a stark contrast from the hype by Prime Minister Narendra Modi and his supporters, emphasizing inadequate manufacturing and private investment growth.

The Indian National Congress launched an attack on the government after India's economic growth fell to a near two-year low of 5.4% during the July-September quarter. Congress general secretary Jairam Ramesh criticized Prime Minister Narendra Modi, comparing his economic record unfavorably to Manmohan Singh's tenure, even amidst recalculated statistics.

Ramesh highlighted how the GDP growth of 5.4% is lower than expected, and private investment growth matches this rate disappointingly. Despite the much-discussed Production-Linked Incentive (PLI) scheme and 'Make in India' initiatives, manufacturing growth fell to a mere 2.2%, while exports slowed to 2.8% and imports contracted by 2.9%, reflecting domestic economic weaknesses.

The Congress accuses the government of falling short despite strong public relations efforts. Although India's GDP growth remains the fastest among large economies compared to China's 4.6%, the report depicts a worrying trajectory, revealed as India's GDP had previously grown by 8.1% the year before in the same July-September period.

(With inputs from agencies.)