New Delhi: The Congress released a report on Tuesday, criticising the economic policies of the Narendra Modi government and alleging that jobless growth is taking place in the economy.
The report claimed that between 2017-18 and 2023-24, employment in the manufacturing sector fell from 12.1 per cent to 11.4 per cent, while in the services sector it declined from 31.1 per cent to 29.7 per cent.
At the same time, the employment in the agriculture sector rose from 44.1 per cent to 46.1 per cent, signalling a return to low-productivity work in the absence of job creation in manufacturing, it stated.
Job growth is concentrated in informal and gig work, while 40 per cent of salaried workers have no contract, no paid leave, and no social security, it noted.
The report prepared by the Congress’s Research Department questions the reliability of official macroeconomic data. It alleges that there is a growing disconnect between official numbers and people’s lived reality.
The report claims that the IMF has given India’s statistics a “C” grade, and that former Chief Economic Adviser Arvind Subramanian has publicly argued that India’s GDP growth may be overstated by 2.5 percentage points.
“If inflation is officially at 0.5 per cent, why is the cost of living rising for every household? Why have household savings collapsed and household debt increased substantially?” it asked.
The report further states that despite claims of a strong economy, the rupee was Asia’s worst-performing currency in 2025, and its dramatic fall continues in 2026, while in four of the 10 months of 2025, net FDI was negative.
It also alleges that the MGNREGA scheme for the welfare of the poor “had already been systematically weakened before this crucial social safety was dismantled and the right to employment replaced by the restrictive VB-G RAM G scheme”.
Releasing the report, Congress Research Department Chairman Rajeev Gowda said: “Real State of the Economy 2026 exposes the Modi government’s priorities. At a time when inequality is worsening, corporate profits are rising, and meaningful job creation is not happening.”
“The Modi government is fixated on slashing welfare. It is dismantling the social safety net for the poor, youth, farmers, and women – the four “castes” which the Prime Minister claims to care about. Further, the credibility of India’s data is being widely questioned,” he added.
(IANS)
