Congress calls GDP numbers a ‘Greatly Distorted Picture’ of economy
Jairam Ramesh says the quarterly numbers failed to reflect the “decidedly depressed” private investment sentiment among both domestic and foreign investors
On Monday, August 31, 2026, India's Congress party expressed skepticism towards the reported 7.8% GDP growth for the April-June quarter. Jairam Ramesh, the party's communication chief, labeled the figures as a "GDP – Greatly Distorted Picture" of the nation's economic state. In a post on X, Ramesh argued that the numbers failed to capture a "decidedly depressed" private investment sentiment among both domestic and overseas investors.
He further pointed out that consumer confidence had sunk to its lowest point since the COVID-19 pandemic, while the cost of essential household goods was on the rise. Additionally, educated unemployment remained alarmingly high.
The Congress party contends that the recorded GDP growth does not accurately represent the true economic condition. Ramesh criticized the figures for not reflecting the sluggish consumer confidence and the growing concerns over inequality. He highlighted pressing issues such as a substantial trade deficit with China, dwindling household savings, and record-high levels of household debt.
Moreover, he accused the concentration of key sectors in the hands of a few large conglomerates for exacerbating income disparities, pointing out that the wealth of India's five wealthiest families had surged significantly, despite real wages declining.
Written by urgent.news from The Hindu's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
