Congress Sounds Alarm Over Negative FDI and Its Impact on Economy

The Congress has expressed serious concerns over negative FDI numbers for October, criticizing the government for ignoring underlying issues. It accuses the administration of undermining MGNREGA and blames sluggish consumer demand for weak domestic and foreign investments, labeling it as a failure of the 'Modi-made economy.'

The Congress party has raised alarms over the significantly negative Foreign Direct Investment (FDI) figures for October, describing them as 'deeply concerning' for India's economic health.

Jairam Ramesh, Congress general secretary for communications, posted on X that the Modi government's lack of action on underlying economic issues, particularly consumer demand, has contributed to weak domestic and foreign investment.

The criticism includes claims that dismantling the MGNREGA program has jeopardized rural economic stability. Reports indicate that while direct investments into India have declined, outward investments by Indian firms continue to grow, further stressing the economic situation.

(With inputs from agencies.)