‘Where are the jobs?’ Congress challenges PM Modi after 7.8% Q1 GDP growth data
India's opposition Congress party has criticized the government's 7.8% GDP growth figures, arguing they mask underlying economic issues like unemployment and sluggish private investment. The government maintains the growth is exemplary, while the opposition claims it fails to translate into prosperity for the average citizen.
Why it matters
The debate highlights the disconnect between macroeconomic indicators and the lived economic reality of the workforce in India.
The Congress on Monday hit out at the government over India's 7.8 per cent GDP growth in the April-June quarter, saying the figure was "not an economic spring" and presented a "Greatly Distorted Picture" of the state of the economy.The opposition party questioned why the country's economic growth was not translating into jobs and prosperity, while Prime Minister Narendra Modi described the first-quarter performance as an "exemplary" and "herculean feat".Jairam Ramesh flags investment, consumer confidence concernsCongress general secretary Jairam Ramesh said the quarterly GDP numbers did not reflect what he described as depressed private investment sentiment, both domestic and foreign."The quarterly GDP numbers, such as they are reported, present a GDP - Greatly Distorted Picture - of the economy.
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