The Indian National Congress has contested the positive outlook of India's 7.8% GDP growth rate for Q1 of FY 2026-27, citing concerns about private investment sentiment and consumer confidence.
According to the Ministry of Statistics and Programme Implementation, India's GDP growth rate for the April-June quarter was 7.8%, with the manufacturing sector growing 9.2% and the services sector growing 10%. However, Congress leader Jairam Ramesh asserted that these figures do not accurately reflect the current state of private investment and consumer confidence.
Ramesh stated 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 are rising sharply while unemployment among educated youth remains high. The Congress leader accused Prime Minister Narendra Modi of encouraging a few large business groups to dominate key sectors.
The criticism from the Congress raises concerns about the accuracy of economic indicators and their reflection of the actual state of the economy. Pawan Khera, another Congress party member, questioned whether India had truly 'bloomed' if 'rampant unemployment, leaked exam papers, and a crumbling education system define the ground reality'.
The concerns were supported by the 2026 Wealth Tracker India study published by the Centre for Financial Accountability and Tax The Top campaign on April 1. The study revealed that five of the richest families in India saw their wealth increase by 400% between 2019 and 2025, while the share of the bottom 50% in the country’s wealth stagnated at 6.4% by 2024.
Source:
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