Congress Critiques Economic Management Ahead of Union Budget

The Congress has criticized the government's handling of the economy, citing a slowdown, high unemployment, and growing income inequality. P Chidambaram warned of potential drops in economic growth and stagnant wages. A new report on economic realities was released, countering government claims before the budget presentation.

The Congress party has launched a scathing critique of the current government's economic policies just days before the Union Budget is set to be presented. They argue that the economy is experiencing significant challenges, including a slowdown, rampant unemployment, particularly among the youth, and increasing income inequality.

Senior Congress figure and ex-finance minister P Chidambaram highlighted the potential for economic growth to decrease by up to 2% relative to last year. During a press briefing at the Congress headquarters, Chidambaram emphasized the release of the 'Real State of the Economy 2025' report, orchestrated by former party MP Rajeev Gowda and his team, which outlines the grim economic scenario.

In his address, Chidambaram underscored a series of economic issues: "There are no jobs. Youth unemployment is nearing 40%, and what the government refers to as job creation is merely filling vacant posts," he remarked. He further addressed stagnated wages, and double-digit inflation in food, education, and healthcare over the past several years, noting the worsening divide between the affluent and the impoverished. The upcoming budget presentation by Finance Minister Nirmala Sitharaman on February 1 is highly anticipated.

(With inputs from agencies.)