Economic Turmoil Under Modi: Kharge Blasts Government Policies

Congress President Mallikarjun Kharge criticized Prime Minister Narendra Modi's government for economic mismanagement, which has left the middle class in distress. Kharge highlighted rising poverty, gold loan spikes among women, and increased financial burden on two-wheeler buyers. He attributed the stock market's downturn to foreign investor trends and US bond yield hikes.

Congress President Mallikarjun Kharge has strongly criticized Prime Minister Narendra Modi's administration, accusing it of bringing India's economy to a precarious state, with the middle class struggling for relief. The Indian stock market has endured significant losses recently, prompting Kharge to question Modi's policies and their impact on the nation.

Using social media platform X, Kharge faulted Modi for economic strategies he claims have led to stagnation, hardship, and financial strain. He pointed out the lengthening recession, rising poverty levels, and what he described as 'pocket-bankruptcy'. This critique follows a 10-day losing streak for Nifty, amid fears of a global trade war and sustained foreign investor withdrawals.

Kharge further criticized the government's impact on women's financial security, noting that between 2019 and 2024, 4 crore women were forced to take significant loans against gold to meet expenses. He also alleged that demonetization and inflation have critically affected women's savings, forcing them to mortgage valuable jewelry. Rising living costs exacerbated by the Russia-Ukraine conflict have hit the middle class hard, diminishing their ability to cover basic needs.

(With inputs from agencies.)