The Congress on Wednesday flagged growing economic inequality as one of the country's most pressing concerns and urged the Centre to acknowledge the economic distress faced by households, expand employment opportunities and take concrete measures to rein in inflation.
Congress general secretary in-charge of communications Jairam Ramesh said economic growth could not be considered meaningful unless its benefits reached ordinary citizens, arguing that headline GDP figures failed to reflect the widening gap between the rich and the common man.
Sharing a media report on X, Ramesh highlighted a decline in net household financial savings to Rs 21.69 lakh crore in the 2025-26 fiscal year, from Rs 22.57 lakh crore in the previous year, even as households invested in bank deposits, mutual funds and other financial assets. The report attributed the decline to household borrowing growing faster than financial asset accumulation.
In a post in Hindi, Ramesh said rising inflation, mounting debt and declining earnings had left the middle class struggling under the Modi government.
He accused the government of manipulating data to mask the extent of inflation and said the younger generation was bearing the brunt of slowing economic activity and shrinking employment opportunities. Citing trends in hiring, he said companies were recruiting fewer people and workers were losing jobs they had held for years.
Ramesh also alleged that rising prices were eroding incomes and savings, while household debt was increasing as families borrowed to meet everyday expenses. Wages, he said, had stagnated or declined in real terms after accounting for inflation, even as corporate profits and the wealth of the rich continued to grow.
With household budgets under pressure, families were increasingly being forced to dip into their savings to meet routine expenses, he said, adding that the middle class and poorer households remained anxious about their economic future.
"Modi-ji, growing economic inequality is one of the nation's most pressing concerns, yet you are fuelling it," Ramesh said, arguing that GDP figures did not show who was benefiting from economic growth or whether ordinary citizens' lives were improving.
"Claims of economic development are meaningful only when their benefits reach the common man; otherwise, these statistics tell a story not of progress, but of a widening economic divide," he said.
The Congress has repeatedly criticised the Centre over rising prices and accused it of pursuing anti-people policies. The government, however, has rejected the opposition's allegations and pointed to India's GDP figures to highlight economic growth.
(With inputs from PTI)
