New Delhi, January 27 (IANS). Congress released a report on Tuesday criticizing the economic policies of the central government and alleged that the economy is growing without unemployment.
The report claims that between 2017-18 and 2023-24, employment in the manufacturing sector declined from 12.1 percent to 11.4 percent, while in the services sector it declined from 31.1 percent to 29.7 percent.
Meanwhile, employment in the agricultural sector increased from 44.1 percent to 46.1 percent, indicating a return to low-productivity work due to the lack of job creation in the manufacturing sector.
The report said employment growth is concentrated in informal and gig work, while 40 percent of salaried workers have no contracts, paid leave and social security.
The report, prepared by the Congressional Research Department, questions the credibility of official macroeconomic data. It alleges that there is a growing gap between official figures and people’s real-life conditions.
The report claims that IMF has given India’s data a ‘C’ grade.
The report asks that if inflation is officially 0.5 percent, why is the cost of living for every family increasing? Why has household savings collapsed and household debt increased so drastically?
The report further said that despite claims of a strong economy, the rupee was Asia’s worst performing currency in 2025, and its dramatic decline continued in 2026, while net foreign direct investment (FDI) was negative in four out of the 10 months of 2025.
Releasing the report, Congress Research Department Chairman Rajeev Gowda said that the Real State of the Economy 2026 highlights the priorities of the central government. At a time when inequality is increasing, corporate profits are increasing, and meaningful employment is not being created.
–IANS
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