Congress president Mallikarjun Kharge on Tuesday called out Union finance minister Nirmala Sitharaman for saying that the Indian economy is delivering good returns.
Replying to a question on selling by foreign institutional investors (FIIs), the finance minister on Monday said India has an environment where investments are yielding good returns.
Kharge tore into the statement through a post on his X (formerly Twitter) handle.
“Nothing can be more ironical than Modi Sarkar's FM saying that our Economy is delivering "Good Returns!” Kharge wrote.
The opposition leader made a point by point attack on the state of the economy under the Narendra Modi government,
“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.
“Foreign Investors have sold over ₹1.56 lakh crore of stocks since October last year, including nearly ₹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% in last 5 years,” he wrote.
The Modi government's trade policy, Kharge wrote, is disastrous for India.
He pegged export growth under UPA (2004-14) at 549.36 per cent and compared it with the
Modi government (2014-24) that he said had managed only 24.72 per cent till April-Nov 2024.
“Modi Govt 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,” Kharge wrote.
He mentioned several other warning signs for the economy.
“India is staring at a global Tariff war. Our Manufacturing Sector is drowning.. Make in India & PLI Schemes have failed. 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% in the past 10 years. Forced oil-gas buy would burden our import bills,” he wrote.
As a sign-off jab, he added: “A visionless, rudderless and policyless Modi Sarkar has tanked the Indian Economy, ruining the lives of Indians!”
