New Delhi: The Congress on Wednesday said growing economic inequality has become one of India’s biggest problems. It asked the government to accept that many families are under financial stress, create more jobs, and take strong steps to control rising prices, PTI reported.
Congress leader Jairam Ramesh shared a media report on X. The report said families are saving more in bank deposits, mutual funds and other financial assets, but their loans are increasing even faster. Because of this, household savings fell by about 4% to Rs 21.69 lakh crore in 2025-26, from Rs 22.57 lakh crore in the previous year.
In a Hindi post, Ramesh said, “Badhti mehengaai, barhta karz, ghat-ti kamaai, Modi sarkar mein madhyam warg ke hisse aayi sirf tabahi (Rising inflation, mounting debt, shrinking earnings – Under the Modi government, the middle class has faced nothing but devastation).”
He accused the government of changing or presenting inflation data in a way that hides the real problems faced by people. He said young people are suffering the most because jobs are fewer, companies are hiring less, and some people are losing long-standing jobs.
Families Under Pressure
Ramesh said people’s income and savings are falling while prices keep rising. He claimed many families are taking loans even for daily expenses. He also said wages are either not increasing or are losing value after inflation.
He said, “Household debt is surging, forcing families to borrow just to cover daily expenses. Wages have either stagnated or, when adjusted for inflation, have seen a decline in real purchasing power. While the wealth of the rich and the profits of corporations continue to grow, middle-class families are struggling to manage their household budgets.”
According to Ramesh, families are using their savings to manage daily needs. He said the government talks about GDP growth, but ordinary and poor families are still worried about their future.
He directly criticised Prime Minister Narendra Modi, saying, “Modi-ji, Growing economic inequality is one of the nation’s most pressing concerns, yet you are fuelling it. GDP figures never reveal who is actually reaping the benefits of growth or whether the lives of ordinary citizens are truly improving.”
Ramesh said development claims mean nothing if ordinary people do not benefit. “Claims of economic development are meaningful only when their benefits reach the common man; otherwise, these statistics tell a story not of progress, but of a widening economic divide,” he said.
The Congress has often criticised the government over rising prices and called its policies “anti-people”. The government has rejected these claims and points to India’s GDP growth.