'Economic Turmoil': Kharge Slams Centre For Throwing Common People Into Financial 'Mess'

Slamming the central government, Kharge alleged that the car sales growth has "plunged" to a four-year low.

File Photo of Congress President Mallikarjun Kharge. (ANI)

Lashing out at the Prime Minister Narendra Modi-led central government, Congress party president Mallikarjun Kharge on Thursday blamed it for creating "economic turmoil" in the country. He said that the government has led to a "mess" in the lives of the common people. Kharge took to social media platform X and attacked the central government, saying, "Modi Government has NO solution for the Economic Turmoil it has created!".

Further, the senior Congress leader highlighted seven indicators, which he asserted, that "illustrate the extent of the mess in the lives of ordinary Indians." "7 indicators that illustrate the extent of mess in the lives of ordinary Indians. 50 per cent increase in Gold Loans and 30 per cent jump in gold loan NPAs. Private consumption - the total value of goods and services purchased by households has slowed down in the last 8 quarters and has not recovered to pre-COVID levels," Kharge further stated.

Modi Govt has NO solution for the Economic Turmoil it has created!

7 indicators that illustrate the extent of mess in the lives of ordinary Indians.

1⃣50% increase in Gold Loans and 30% jump in gold loan NPAs.

2⃣Private consumption - the total value of goods and services… pic.twitter.com/zhGxIQo7bJ — Mallikarjun Kharge (@kharge) January 2, 2025

The Congress chief further alleged that the car sales growth has "plunged" to a four-year low. "Wages grew at a compound annual rate of just 0.8 per cent in the engineering, manufacturing, process, and infrastructure (EMPI) sectors in the past 5 years (2019-2023). Food inflation has averaged 7.1 per cent over the last eight quarters. Indirect taxation in the form of GST on essential items are depleting Household Savings which are at a 50-year low," he added.

Kharge further claimed that "household financial liabilities" are now 6.4 per cent of GDP - the "highest" in decades. "Rupee has hit an all-time low, forcing foreign fund outflows and loss to small investors worth lakhs of crores, Narendra Modi ji. Your annual 'New Year Resolutions' have been nothing short of JUMLAS destroying the lives of EVERY CITIZEN!" Kharge stated.