Congress president Mallikarjun Kharge Thursday said the BJP-led government at the Centre has created “economic turmoil”, leading to a mess in the lives of the common people.

Attacking the ruling BJP-led NDA, he said, “Modi government has no solution for the economic turmoil it has created.”

Advertisement

The Congress chief highlighted seven indicators, which he asserted, that illustrate the extent of mess in the lives of ordinary Indians.

“There is a 50 per cent increase in gold loans and 30 per cent jump in gold loan NPAs (non-performing assets). The total value of goods and services purchased by households has slowed down in the last eight quarters and has not recovered to pre-Covid levels,” he wrote on X.

The Congress chief also claimed that the car sales growth has plunged to a four-year low.

He said the wages grew at a compound annual rate of just 0.8 per cent in the engineering, manufacturing, process, and infrastructure (EMPI) sectors in the past five years (2019-2023).

“Food inflation has averaged 7.1 per cent over the last eight quarters. Indirect taxation in the form of GST on essential items are depleting household savings which are at a 50-year low. Household financial liabilities are now 6.4 per cent of GDP– the highest in decades,”he said.

Kharge, who is also the Leader of Opposition in Rajya Sabha, claimed that rupee has hit all-time low, forcing foreign fund outflows and loss to small investors worth lakhs of crores.

Taking a jibe at Prime Minister Narendra Modi, he said, “Your annual ‘New Year Resolutions’ have been nothing short of ‘jumlas’ destroying the lives of every citizen.”