National Desk
30 October
Sandeep Dhand Ludhiana
The Congress party has expressed concern, claiming that India is facing economic difficulties marked by wage stagnation, inflation, and inequality. Congress General Secretary Jairam Ramesh described these issues as creating “recession-like conditions” in the country. He warned that if these challenges are not addressed seriously, India’s development could be at risk in the future.
Ramesh emphasized that India’s economic growth over the past three decades has largely been driven by rising consumption. This growth allowed millions of families to escape poverty and join the middle class, building a strong and fast-growing economy. However, he stated that this growth trend has reversed over the past decade. According to him, the current economic scenario has led to a decrease in consumption, becoming a major issue for the economy.
Adding to these concerns, Ramesh mentioned that even business leaders are worried, with one prominent CEO noting a shrinking middle class in India. The Congress party believes that these economic challenges require urgent action to prevent long-term setbacks for the country’s growth.