The Congress has raised concerns about the accuracy of India's Q1 GDP growth rate, stating that it does not reflect the depressed private investment sentiment and sluggish consumer confidence in the economy.
The Ministry of Statistics and Programme Implementation reported a 7.8% growth in India's gross domestic product (GDP) during the April-June quarter of the financial year 2026-’27. The manufacturing sector grew 9.2%, and the services sector grew 10%, compared to the same period last year.
However, Congress leader Jairam Ramesh has contested these figures, stating that they do not convey the 'decidedly depressed private investment sentiment in the economy – both domestic and foreign'. Ramesh added that the prime minister's celebration of the GDP growth rate was 'premature'.
The MP claimed that consumer confidence was weak and had fallen to its lowest level since the Covid-19 pandemic, continuing a downward trend since November 2025. He also pointed out that prices of essential household goods were rising sharply, while unemployment among educated youth remained high.
Ramesh further accused the prime minister of encouraging a few large business groups to dominate key sectors. His comment was in reference to the 2026 Wealth Tracker India study published by non-profit organization Centre for Financial Accountability and Tax The Top campaign on April 1, which showed that five of the richest families in India saw their wealth increase by 400% between 2019 and 2025. On the other hand, the share of the bottom 50% in the country’s wealth stagnated at 6.4% by 2024.
Ramesh's party colleague Pawan Khera questioned whether India had truly 'bloomed' if rampant unemployment, leaked exam papers, and a crumbling education system defined the ground reality.
Source:
Scroll.in
