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Congress chief Mallikarjun Kharge on Monday hit out at the government over Finance Minister Nirmala Sitharaman's remarks about the economy delivering "good returns" and accused it of pursuing "disastrous" trade policy.
In a hard-hitting attack, Kharge alleged that India is staring at a global tariff war, country's "manufacturing sector is drowning and "Make in India & PLI Schemes have failed". He accused the government of being "visionless, rudderless and policy-less" and alleged that it has tanked the Indian economy. "Nothing can be more ironical than Modi Sarkar's FM saying that our Economy is delivering "Good Returns"! Rs 45 lakh Cr has been wiped out from the Indian stock markets so far in 2025. Nifty 50 firms have shown the worst quarterly profit growth in 5 years," Kharge said in a post on X. He said foreign Investors have sold over Rs 1.56 lakh crore of stocks since October last year, including nearly Rs 1 lakh crore in 2025 itself, "which has led to wiping out wealth of small & medium investors". "Rupee at 87, means Trade Deficit is sky-high. Imports have risen by 62.21 per cent in last 5 years. Modi Govt's Trade policy is disastrous for India," he said. He also compared export growth in 10 years of Congress-led UPA government and BJP-led NDA government. "Export Growth: Comparison. UPA (2004-14) - 549.36%; Modi (2014-24) - 24.72% (Till April-Nov 2024)," the post said. He said Modi Government has forgone "a corporate tax revenue of Rs 10 Lakh crore in past 10 years, in anticipation that they will create jobs, but 8 out 9 companies that have benefitted from the cut in Corporate taxes have Reduced jobs". "Youth Unemployment has no solution, price rise is extinguishing savings, consumption is falling, no respite from budget, rural wages have seen zero growth, rupee has depreciated by 43 per cent in the past 10 years, forced oil-gas buy would burden our import bills," he said. "A visionless, rudderless and policyless Modi Sarkar has tanked the Indian Economy, ruining the lives of Indians," he added. Union Finance Minister Nirmala Sitharaman had said in Mumbai on Monday that heavy selling by foreign investors could be an outcome of their investments in India delivering "good returns". (ANI)
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