Congress Calls for Action as India Faces Economic Challenges

The Congress criticizes the government, attributing a fall in net FDI and domestic investor uncertainty to 'crony capitalism' and 'tax terrorism'. They call for reforms in GST and protection against Chinese imports, highlighting stagnant private investment despite prior corporate tax cuts.

The Congress party has raised concerns about India's economic health, highlighting a noticeable decline in net foreign direct investment and pervasive domestic investor anxiety. They attribute these problems to the government's 'crony capitalist and tax terrorism' policies.

The Finance Minister, Nirmala Sitharaman, reportedly acknowledged the sluggish pace of private sector investment, which Congress claims confirms their longstanding concerns. The situation persists despite significant corporate tax cuts in 2019 meant to spur growth.

Congress also voiced issues like stagnant wages and flawed GST implementation affecting market growth and urged governmental action to resolve these economic challenges and protect domestic industries from Chinese market disruptions.

(With inputs from agencies.)