New Delhi: The Congress leader alleges that India’s debt was Rs 55 lakh crore in 2014, and now it has reached Rs 155 lakh crore. They claimed that it took 67 years and 14 prime ministers for India’s debt to reach Rs 55 lakh crore.
Congress said on Saturday, “that India’s debt almost tripled to Rs 155 lakh crore under PM Narendra Modi’s leadership. Now they want white paper on the economy. Party spokesperson Supriya Shrinate blamed Modi govt for economic mismanagement. She said the debt increased by Rs 100 lakh crore since 2014 when the Modi government came into power.
She also mentioned, “When Modi was the CM of Gujarat, he used to accuse those from the opposing political group of being incapable and corrupt. However, those very adjectives seem to apply more to him and his government today. During the press conference, she stated that Modi has not only ruined India’s economic progress and caused widespread unemployment but has also led to significant increase in inflation. The work done by Modi is beyond imagination and has resulted in India’s debt rising by over Rs 100 lakh crore, which is raise concerns high level.
Modi Government’s Debt Soared Over Rs 100 Lakh Crore
The Congress leader also alleges that in 2014, India’s debt was only Rs 55 lakh crore, but now it has crossed Rs 155 lakh crore. She claimed that it took 67 years and 14 prime ministers for the debt to reach Rs 55 lakh crore, while Modi alone increased it by over Rs 100 lakh crore. Economic management is different from managing just the headlines. This cannot be accomplished through a teleprompter or WhatsApp forwards. We want a detail report on the Indian economy as the problems are becoming more dangerous.
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Shrinate also said that out of all the wealth in the country, the poorest 50% of Indians, who own only three percent, contribute 64 percent of the GST collection. On the other hand, the richest 10% own 80% of the wealth but only pay three percent of the GST. Shrinate said that LPG cylinders in India are the most expensive, and when it comes to petrol, India ranks third in terms of high prices, while in diesel, it ranks eighth worldwide.
India’s GDP ratio has increased to 84 percent
She said that the Modi govt has borrowed Rs 4 lakh every second during its time in power. She also mentioned that the govt pays an annual interest of Rs 11 lakh crore on this debt. The Congress spokesperson claimed that India’s debt-GDP ratio has increase to 84 percent, which is in danger when compared with other developing and emerging market economies. He pointed out that the average debt-to-GDP ratio of such economies is 64.5 percent.