The Congress on Tuesday released its annual report on the “Real State of the Economy 2026”, which questioned the Centre's figures on economic growth.
Prof. Rajeev Gowda, Ex MP and Chairman, All India Congress Committee (AICC) Research Department, said, “Real State of the Economy 2026 exposes the Modi government’s priorities. At a time when inequality is worsening, corporate profits are rising, meaningful job creation is not happening, the Modi government is fixated on slashing welfare."
He added, "Further, the credibility of India’s data is being widely questioned. India needs honest numbers and an inclusive development model that creates jobs, not just headlines. The Modi government’s triumphalist propaganda reminds us of the hubris of the ‘India Shining’ period under an earlier NDA government.”
Amitabh Dubey, In-charge of Research and Monitoring, AICC Communications Department, said, “Growth that benefits only a few is not success. It is a warning sign."
He went on to say, "But fundamentally good policy begins with honest data. We ask the government to place the real numbers before the country, not manipulated figures that mislead the people.”
“If inflation is officially at 0.5%, why is the cost of living rising for every household? Why have household savings collapsed and household debt increased substantially,” the report stated.
The report also flagged the issue of inequality, saying, "The top 10% earn 58% of national income; bottom 50% get only 15% of national income. Top 1% own 40% of wealth; bottom 50% owns just 6.4%."
Referring to the 'hollowing out' of welfare schemes, it said, "MGNREGA had already been systematically weakened before this crucial social safety was dismantled and the right to employment replaced by the restrictive VB-G RAM G."
The report noted that the rupee was Asia’s worst performing currency in 2025, with the dramatic fall continuing in 2026.
"In 4 of the 10 months of 2025, net FDI was negative, meaning more money left India than came in," it said.
"Due to falling confidence in the domestic economy, Indian investors are increasingly moving capital abroad. Thousands of High Net Worth millionaires are fleeing India every year," it added.