Leader of Opposition in the Lok Sabha, Rahul Gandhi, expressed grave concern over India’s economic slowdown on Sunday, highlighting that the country’s Gross Domestic Product (GDP) growth rate has plummeted to its lowest in two years, standing at just 5.4 per cent. Gandhi attributed this downturn to an economy that, according to him, disproportionately benefits a small group of billionaires, while farmers, workers, the middle class, and the poor continue to face persistent economic hardships.
In a tweet shared on X (formerly Twitter), Gandhi said, “The Indian economy cannot progress as long as its benefits are accruing only to a handful of billionaires, while the farmers, laborers, middle class, and the poor are struggling with various economic problems.”
Rising inflation and declining purchasing power
Gandhi pointed to several worrying indicators in the economy, particularly the rise in retail inflation, which has reached a 14-month high of 6.21 per cent. He noted that the prices of essential commodities like potatoes and onions have surged by nearly 50 per cent compared to the same period last year, placing a significant burden on the common man.
Further, the Congress leader drew attention to the alarming depreciation of the Indian Rupee, which has fallen to a record low of ₹84.50 against the US dollar, exacerbating inflationary pressures. Additionally, he highlighted the country’s record-high unemployment rate, which has reached its highest point in 45 years.
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