The Congress on Monday called the Economic Survey 2024 tabled by finance minister Nirmala Sitharaman as a ‘cherry-picked view’ of the Indian economy.
“India is in its most precarious and difficult economic situation in many years. The Economic Survey 2023-24 presents a cherry-picked view of the economy, but we hope that tomorrow’s Budget faces up to the country’s realities,” Congress general secretary Jairam Ramesh posted on X while sharing his statement on the economic survey tabled a day before Union Budget 2024.
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In his statement, Ramesh said,"The Economic Survey of 2023-24, released in advance of tomorrow's Budget, must have been a difficult document for the non-biological PM's spin doctors to produce. It does its best to present an "all is well" rosy picture of the economy."
The Congress leader said that food inflation remains unchecked at nearly 10 per cent per year. “Prices of specific foods are growing at a rapid pace- cereals at 11 per cent, vegetables at 15 per cent, spices at 19 per cent, and milk at 7 per cent,” the former Union minister said.
The Economic Survey 2023-24 has projected that the country's GDP is likely to grow at 6.5 to 7 per cent in the current fiscal year amid global challenges which may impact exports.
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The growth projected for 2024-25 is lower than the economic growth rate of 8.2 per cent estimated for the previous financial year. The Reserve Bank has projected the GDP growth for the fiscal year ending March 2025 at 7.2 per cent.
Ramesh claimed that the economic recovery after the Covid-19 pandemic has been deeply unequal. “Rural India has been left behind. Sales of two-wheelers in rural areas, one of the leading indicators of consumer demand and economic growth, are still lower than they were in 2018,” he added.
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Accusing the Modi government of an anti-farmer mindset, the Congress leader alleged that the ruling dispensation's “abuse of import-export policy” with “unplanned and unjustified export bans” and “flood of cheap imports”, has been flagged for debilitating farmer incomes.
“The failure of trade policy has also contributed to the decimation of India's manufacturing capabilities,” he added.
The growth projected for 2024-25 is lower than the economic growth rate of 8.2 per cent estimated for the previous financial year. The Reserve Bank has projected the GDP growth for the fiscal year ending March 2025 at 7.2 per cent.
Ramesh claimed that the economic recovery after the Covid-19 pandemic has been deeply unequal. “Rural India has been left behind. Sales of two-wheelers in rural areas, one of the leading indicators of consumer demand and economic growth, are still lower than they were in 2018,” he added.
ALSO READ: Why onion, tomato prices rose in 2 years. Economic Survey's ‘climate’ reason
Accusing the Modi government of an anti-farmer mindset, the Congress leader alleged that the ruling dispensation's “abuse of import-export policy” with “unplanned and unjustified export bans” and “flood of cheap imports”, has been flagged for debilitating farmer incomes.
“The failure of trade policy has also contributed to the decimation of India's manufacturing capabilities,” he added.