Rahul Gandhi Criticizes Centre, Says Indian Economy Can’t Progress Without Key Reforms
Congress leader Rahul Gandhi criticized the central government for India’s declining growth rate and outlined how the country’s economy could improve. He pointed out that India’s GDP growth rate has fallen to 5.4 percent in the past two years. Rahul Gandhi emphasized that the economy cannot progress if only a few select groups are benefiting while farmers, workers, the middle class, and the poor continue to face economic difficulties.
Sharing his concerns on social media, Rahul Gandhi highlighted rising inflation. Retail inflation has reached a 14-month high of 6.21 percent, and prices of essential items like potatoes and onions have jumped by around 50% compared to last year. He also noted that the rupee has dropped to its lowest value of 84.50 against the dollar.
Rahul Gandhi also pointed out that unemployment in India has reached a 45-year high. He claimed that in the last five years, the incomes of workers, employees, and small businesses have either stagnated or fallen, leading to decreased demand in the economy. For example, the share of cars priced below 10 lakhs in total car sales has dropped from 80% in 2018-19 to less than 50% now.
He also claimed that the demand for affordable housing has decreased, with sales of low-cost homes now making up only about 22% of the market, compared to 38% last year. Rahul Gandhi added that sales of fast-moving consumer goods (FMCG) products are also falling.
He criticized the tax system, saying that the share of corporate taxes has decreased by 7% over the last 10 years, while income taxes have increased by 11%. Rahul Gandhi also blamed demonetization and the Goods and Services Tax (GST) for reducing the share of manufacturing in the economy to just 13%, the lowest in 50 years.
To improve the economy, he said a new approach is needed, one that provides equal opportunities for all. He emphasized that only when everyone has a chance to succeed will the economy be able to move forward.
