Rahul Gandhi Warns: India’s Economy Hits 5.4% Growth – What’s Next?

On Sunday, Rahul Gandhi, the Leader of the Opposition in the Lok Sabha, said that India’s economy is facing serious issues. He pointed out that the Gross Domestic Product (GDP) growth rate has dropped to its lowest point in two years, at just 5.4%. He believes that the benefits of economic growth are only reaching a few billionaires while everyday people like farmers, workers, and the middle class are struggling.

Rahul Gandhi shared his concerns on social media, stating, “India’s GDP growth has fallen to its lowest in two years at 5.4%. It’s clear that our economy can’t grow if only a few rich people benefit while others face tough challenges.”

He highlighted that retail inflation, which measures how much prices are rising, has increased to 6.21%, the highest in 14 months. Basic food items like potatoes and onions have nearly doubled in price over the past year. Additionally, the rupee’s value has dropped to 84.50 against the dollar.

Rahul Gandhi also shared worrying facts: “Unemployment is now at its highest in 45 years. Earnings for workers and small business owners have either stayed the same or dropped in the past five years.” He noted that the demand for affordable cars has decreased from 80% to less than 50% because people have less money to spend.

He also pointed out that fewer affordable homes are being sold now compared to last year, and the demand for fast-moving consumer goods is going down. Corporate tax has decreased by 7% over the last ten years, while income tax has risen by 11%. Due to changes like demonetization and the Goods and Services Tax (GST), the share of manufacturing in India’s economy has fallen to just 13%, the lowest rate in 50 years.

Rahul Gandhi emphasized that new ideas are needed to help India’s economy grow. He believes everyone should have equal chances to succeed. Only then can India’s economy truly move forward.