Chicago – October 06, 2024
On Sunday, Congress President Mallikarjun Kharge criticized Prime Minister Narendra Modi for his handling of India’s economy. Kharge accused Modi of giving “stale lectures” and being unable to improve the country’s economic problems.
He used the term “Modinomics” to describe what he sees as harmful economic policies by Modi and said they were a “curse to India’s economy.”
Kharge highlighted several issues, including high household debt, rising prices, and problems in the manufacturing sector. He stated that Modi’s much-touted “Make in India” initiative has failed significantly.
According to Kharge, household debt has increased by 241% from 2013-14 to 2022-23, and it now makes up 40% of India’s GDP, which is the highest it has ever been.
He also mentioned that Indian families’ savings are at their lowest in 50 years and that, since the Covid pandemic, families have been spending more than they earn.
