Remedy required to avoid recession: Congress – Measures required to avoid reaction Congress –

On the eve of the Economic Review for 2024-25 in Parliament, the Congress on Thursday released a report titled ‘Actual Status of Economy’ alleged that the National Democratic Alliance (NDA) government of the Center has the economic policies of the country to the country Medium is trapped in a trap of income. Due to the policies of the Center, India will become non -competitive and unproductive, which will increase inequality.

Former Finance Minister P. Chidambaram released the report prepared by the research department of the Congress headed by former Rajya Sabha member MV Rajiv Gowda. The report said that GDP (GDP) growth rate is within 6 percent. At a time when there is a cloud of apprehension over jobs in future due to fast technological changes, this growth rate is not enough to create employment opportunities for the growing youth population of the country.

The report said, ‘This will increase a lot of inequality in India. While our two-thirds of our population is dependent on the government’s free grain, some of the Prime Minister’s favorite people are fast making property. Gowda referred to the report of former Deputy Governor of Reserve Bank of India (RBI) Viral Acharya, stating that five corporate groups have a monopoly on 40 major sectors of the economy. He said, “What you are seeing, it is accumulation rather than distribution and there is a situation of competition within the economy itself.” They argue that in this way other groups are not able to invest in these areas.

The Congress report said that according to government data, India’s GDP growth for the year 2024-25 is expected to be 6.4 percent, but this rate of hike is not enough to celebrate, because if India has its youth population If you want to take advantage, then there is a need for 8 percent GDP increase for this. It states that the government is focusing on enriching its corporate supporters.

The report said, ‘In the year 2019, the government announced a large -scale tax deduction for companies, but the private sector did not increase investment instead. Common people and small businesses are punished on petrol and diesel and are burdened with the burden of Goods and Services Tax System.

Can India face recession, in response to this question, he said that even though there is no government in India, there will not be a recession in the economy here. He said, ‘We will continue to grow by 4-5 percent, because farmers, laborers and small industries are busy in the production of grains and other services. The real question is how much the government can increase the economy from 4-5 percent.

The former Union Finance Minister said that the government’s policies have increased the underlying growth rate by 1.5-2 percent, but this is not enough. He said, ‘We are actually the fastest growing economy in the world but remember that with an increase of 2.7 per cent last year, the US added $ 787 billion to its GDP in a year. Meanwhile, China also increased by 4.91 percent last year and added $ 895 billion to its GDP. We are growing at a fast rate but we have added only $ 256 billion to our GDP. Therefore, we really need to look at the increase in GDP and not to compare the growth rates. ‘

The Congress said that the first step towards fixing the economy is to accept what things are going wrong. The report said, ‘The government has always ignored adverse data and has always been insisting on dismissing. The purpose of this report is to provide a clear picture of various important dimensions of the economy. The purpose of such positive criticism is to emphasize the methods that India can be ready for the prosperity, opportunity and inclusive growth of the future.

This report mentions unemployment crisis, uneven GDP growth and stable income, low domestic consumption and lack of savings in various dimensions of India’s economic challenges.

First Published – January 30, 2025 | 11:14 pm IST

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