Congress Raises Concerns Over India's Economic Challenges Under Modi
The Congress party has voiced significant concerns regarding the Indian economy, criticizing Prime Minister Narendra Modi for his lack of new strategies to address rising inflation and declining foreign investment. Jairam Ramesh highlighted the negative public sentiment towards the economy and the urgent need for a shift in economic policymaking. He emphasized that without a substantial increase in private investment, sustaining economic growth will be challenging. The party's critique reflects broader worries about the current economic climate and the government's response to these pressing issues.
May 21, 2026, 13:10 IST
Congress Critiques Economic Management
The Congress party has expressed serious concerns regarding the state of the Indian economy, asserting that while Prime Minister Narendra Modi may be winning elections through knowledge, he requires new insights to tackle the economic challenges ahead. Jairam Ramesh, the Congress General Secretary in charge of communications, noted that public sentiment towards the economy has turned so negative that even professional supporters of the Modi government are beginning to voice their worries openly. He pointed out that inflation forecasts are rising rapidly, while growth projections have significantly declined.
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Ramesh highlighted that Foreign Direct Investment (FDI) is on a continuous decline, and the mismanagement of supply chains has reached such a critical point that the Prime Minister has urged consumers to reduce their spending. He stated that these concerns are not new; the Indian National Congress has been raising them for some time, particularly regarding the sluggish investment climate. Referring to Modi gifting candies to Italian Prime Minister Giorgia Meloni, Ramesh criticized the Prime Minister for being preoccupied with distributing sweets and making religious appeals to the public.
He claimed that the ground is shifting beneath the country's feet, emphasizing the urgent need for a radical change in economic policymaking. However, he argued that the Modi government lacks any new ideas beyond self-praise. Ramesh also mentioned Chief Election Commissioner Gyanesh Kumar, alleging that the Prime Minister is conducting elections through him, while stressing the immediate need for new knowledge to address economic issues.
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He further stated that without a significant increase in private investment rates, it is impossible to accelerate and sustain economic growth at high levels, which is essential. The stagnation of real wages has hindered consumption growth across all income groups, preventing private investment from advancing. Without consumer demand, Indian companies lack the incentive to invest.
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