New Delhi: The Congress alleged on Monday that the Economic Survey released by the government presented a “cherry-picked” view of the economy and claimed that India is experiencing its “most precarious and difficult” economic situation in many years.
Finance Minister Nirmala Sitharaman presented the Economic Survey 2023-24, along with the statistical appendix, in the Lok Sabha on Monday. The Economic Survey is an annual document presented by the government ahead of the Union Budget to review the state of the economy.
Congress general secretary in-charge communications Jairam Ramesh said the need of the hour is a right to apprenticeship, protections for gig workers and unorganised sector workers, minimum wage hikes to Rs 400 per day, an end to “tax terrorism” and an expansion of social-protection schemes like the one for anganwadis.
In his statement, Ramesh said,”The Economic Survey of 2023-24, released in advance of tomorrow’s Budget, must have been a difficult document for the non-biological PM’s spin doctors to produce. It does its best to present an “all is well” rosy picture of the economy.”
The Congress leader said that food inflation remains unchecked at nearly 10 per cent per year. “Prices of specific foods are growing at a rapid pace- cereals at 11 per cent, vegetables at 15 per cent, spices at 19 per cent, and milk at 7 per cent,” the former Union minister said.
The Economic Survey 2023-24 has projected that the country’s GDP is likely to grow at 6.5 to 7 per cent in the current fiscal year amid global challenges which may impact exports.
The growth projected for 2024-25 is lower than the economic growth rate of 8.2 per cent estimated for the previous financial year. The Reserve Bank has projected the GDP growth for the fiscal year ending March 2025 at 7.2 per cent.
Ramesh claimed that the economic recovery after the Covid-19 pandemic has been deeply unequal. “Rural India has been left behind. Sales of two-wheelers in rural areas, one of the leading indicators of consumer demand and economic growth, are still lower than they were in 2018,” he added.
Accusing the Modi government of an anti-farmer mindset, the Congress leader alleged that the ruling dispensation’s “abuse of import-export policy” with “unplanned and unjustified export bans” and “flood of cheap imports”, has been flagged for debilitating farmer incomes.
“The failure of trade policy has also contributed to the decimation of India’s manufacturing capabilities,” he added.
