Kharge Slams Government: 'India Faces Economic Turbulence and Policy Failures'

Congress chief Mallikarjun Kharge criticizes the government for its economic policies, labeling them as disastrous. He accuses the government of a significant downturn in the manufacturing sector and a failing trade policy, highlighting the loss of investor confidence and stagnant export growth under Modi's leadership.

Congress President Mallikarjun Kharge launched a fierce critique of the government on Monday, targeting Finance Minister Nirmala Sitharaman's assertions that the economy is providing 'good returns.' Kharge contends that the government's approach to trade policy is calamitous, warning of a looming global tariff war and a drowning manufacturing sector as 'Make in India' and PLI schemes falter.

In a scathing assessment, Kharge described the administration as lacking vision, direction, and coherent policy, claiming it has severely impacted the Indian economy. Highlighting that Rs 45 lakh crore has been erased from the stock market in 2025, he underscored the Nifty 50 companies' dismal quarterly profit growth, hitting a five-year low.

Kharge noted that foreign investors have withdrawn over Rs 1.56 lakh crore since October last year, contributing to small and medium investors' losses. With the rupee plummeting to 87, Kharge argues the trade deficit has surged, imports have drastically increased by over 62% in five years, and the government's trade policies are jeopardizing India's future.

He drew a stark comparison between export growth figures during the Congress-led UPA's tenure and the BJP-led NDA government. Kharge pointed out the Modi administration's failure to stimulate job creation, despite sacrificing a corporate tax revenue of Rs 10 lakh crore over the past decade. He criticized the increase in youth unemployment, inflation's impact on savings, stagnant consumption, lack of budget relief, zero rural wage growth, and the rupee's 43% depreciation.

Kharge characterized the Modi government as visionless and his critique concluded with concerns over forced oil and gas purchases further burdening India's import bills. Meanwhile, Finance Minister Sitharaman stated on Monday that the heavy selling by foreign investors reflects good returns on their investments in India.