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Rahul said- Farmers, middle class and poor are struggling with economic problems. (file)
Congress leader Rahul Gandhi expressed concern over India’s low GDP rate in an X post on Sunday. He wrote – As long as a handful of billionaires continue to benefit from the country’s economy, the economy cannot progress.
He wrote- India’s GDP growth rate has fallen to the lowest in two years at 5.4%. It is clear that the Indian economy cannot progress as long as only a few billionaires are benefiting from it. Farmers, labourers, middle class and poor are struggling with various economic problems.
Rahul said that the rupee has reached the lowest level of 84.50 against the dollar. Unemployment has already broken the record of 45 years. In the last 5 years, the income of labourers, employees and small traders has either stagnated or reduced significantly.
Issues included in Rahul’s X post…
- Retail inflation has increased to a 14-month high of 6.21%. The price of potatoes and onions increased by almost 50% this year compared to October last year.
- Due to decrease in income, demand has also decreased. The share of cars priced below Rs 10 lakh in sales has declined to less than 50%, from 80% in 2018-19.
- The share of affordable housing in total sales has declined to around 22%, which was 38% last year. The demand for FMCG products is already decreasing.
- The share of corporate tax has declined by 7% in the last 10 years, while the share of income tax has increased by 11%.
- Due to demonetization and GST, the share of manufacturing in the economy has dropped to only 13%, the lowest in 50 years. In such a situation, how will new job opportunities be created?
Data from National Statistics Office – GDP growth declined to 5.4% between July and September, this is the lowest in 21 months.
The National Statistical Office had released data on November 29 and said that India’s GDP growth has declined to 5.4% in the July-September quarter of financial year 2025. This is the slowest growth in seven quarters. GDP growth has slowed down due to poor performance of the manufacturing sector.
Earlier, the growth in the third quarter of 2023 was 4.3%. Whereas in the same quarter a year ago (Q2FY24) it was 8.1%. In the last quarter i.e., Q1FY25 it was 6.7%. India’s GVA grew at 5.6% in the July-September quarter. GVA growth in the same quarter a year ago was 7.7%. Whereas in the last quarter, GVA growth was 6.8%.
Sector wise growth on year on year basis (FY25 Vs FY24)
- Mining Growth: -0.1% Vs 11.1%
- Manufacturing Growth: 2.2% Vs 14.3%
- Electricity Growth: 3.3% Vs 10.5%
- Construction Growth: 7.7% Vs 13.6%
- Agriculture Growth: 3.5% Vs 1.7%
- Trod, Hotel Growth: 6% Vs 4.5%
- Fin and Real Estate Growth: 6.7% Vs 6.2%
- Public Admin and Services Growth: 9.2% Vs 7.7%
India is still the fastest growing economy among major countries Despite slow GDP growth, India still remains the fastest growing economy among major economies. China’s GDP growth in the July-September quarter this year was 4.6%. Whereas Japan’s GDP has grown at the rate of 0.9%.
GDP measures the value of goods and services GDP i.e. Gross Domestic Product measures the total value of goods and services produced in the country within a period. In this, the foreign companies which produce within the country’s borders are also included. GDP tells the health of the economy.
There are two types of GDP, real and nominal. There are two types of GDP. In real GDP, the value of goods and services is calculated at the base year’s value or stable price. At present the base year for calculating GDP is 2011-12. Whereas, nominal GDP is calculated at current price.
Rahul Gandhi had said- Demonetization destroyed MSME
Rahul Gandhi had targeted the Modi government on November 8, on the completion of 8 years of demonetization. He had said- Demonetization has promoted monopoly by destroying MSME and informal sector. More cash is being used in India today than 8 years ago.
Rahul had said that inefficient and ill-intentioned policies that create an environment of fear for businesses will destroy India’s economic potential.
Sharing a chart, he had said that cash with the public had decreased from 11 percent of GDP in 2013-14 to 8 percent in 2016-17 and has now increased to 14 percent of GDP in 2020-21. Read the full news…
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Other news related to Rahul Gandhi…
Rahul said in Wayanad – Law is different for Adani: Modi ji says that even if the case goes on in America, it will not go on in India.
Priyanka Gandhi reached Wayanad, Kerala for the first time after becoming MP on 30 November. Rahul Gandhi was also with him. Rahul had said here- The Constitution says that all people should be treated equally. Prime Minister Modi says Adani will be treated differently from every other Indian. The Prime Minister says that even if a case is filed in America, we will not file a case against him in India. Read the full news…
Rahul said- PM Modi is saving Adani: out even after doing scam of ₹2000 crore
BJP had said on November 21 that there was no BJP government in the four states named in the US case against Adani Group. Congress was in power in Chhattisgarh and its ally party was in power in Tamil Nadu. Party spokesperson Sambit Patra said in the press conference that Rahul Gandhi is tarnishing the image of Prime Minister Modi. He raised the Rafale issue in 2019, but later he had to apologize in the Supreme Court. Read the full news…
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