PM Narendra Modi calls 7.8% GDP growth ‘herculean feat’; Congress takes ‘Greatly Distorted Picture’ dig

In the April-June quarter, India's real GDP growth rate reached 7.8%, surpassing the Reserve Bank of India's forecast of 7%. Prime Minister Narendra Modi hailed this accomplishment as a "herculean feat," emphasizing the collective strength of the Indian people in overcoming global uncertainties. He attributed the growth to India's ability to "bloom again" despite oil price shocks and supply chain disruptions.

The ruling NDA government, represented by Union Home Minister Amit Shah, also celebrated the growth, attributing it to the "visionary" leadership of Prime Minister Modi and the success of their economic reforms. Finance Minister Nirmala Sitharaman credited the reforms and efficient management of the economy for the growth.

However, the main opposition Congress party criticized the growth figures, calling them a "greatly distorted picture" of the economy. They pointed out several factors that they believe contribute to the apparent growth, such as depressed private investment sentiment, sluggish consumer confidence, and rising prices of household essentials. Congress leaders also highlighted issues like alarming levels of educated unemployment, a widening wealth gap among India's richest families, and the impact of a trade deficit with China.

Congress MP Jairam Ramesh stated that the numbers presented by the government "do not convey the decidedly depressed private investment sentiment in the economy" and that the "wealth of India's five richest families has grown by 400% while the real wages of salaried workers have fallen." He further questioned whether the GDP growth truly reflects the prosperity of the Indian public if it does not translate into job creation, higher wages, or increased opportunities for the youth.

Critics of the government's growth claims argue that a single quarter's 7.8% growth does not signify a robust economic spring. They point to high levels of unemployment, leaked exam papers, and a deteriorating education system as evidence that the growth figures do not accurately represent the ground reality for India's youth.