New Delhi: The Congress questioned the GDP figures launched by the Heart and stated a number of different indicators, together with unemployment charge, decline in international direct funding (FDI) and droop in manufacturing, recommended that “the official figures of the Bharatiya Janata Social gathering authorities are questionable”.
The report, launched by MV Rajeev Gowda, head of the parliamentary analysis wing and former Rajya Sabha lawmaker, says the “central paradox” of India’s financial system is the focus of wealth amongst a small phase of the inhabitants, alongside the weakening of public packages meant to guard folks from danger and deprivation.
“On paper, India’s financial system is flourishing. GDP development for the second quarter of fiscal 2026 was reported at 8.2%, considerably exceeding authorities and market expectations,” stated the report titled ‘The State of the Financial system 2026’.
“Knowledge reveals that GDP development of 8.2% was pushed by a surge in manufacturing, which reportedly grew by 9.1% within the second quarter and eight.4% within the half-year (April-September 2025). Nevertheless, over the identical half-year, the eight core trade indexes, which account for 40% of the commercial manufacturing index, grew by solely 2.9%. Such broad disparities additional increase questions surrounding the federal government’s statistics,” it added.
The report additional claims that the Modi authorities’s tenure has been marked by a decline in confidence in India’s financial indicators, amid considerations that the federal government is “manipulating” official knowledge to go well with political agendas.
“These considerations had been strengthened after the Worldwide Financial Fund (IMF) awarded India a C grade for the standard of its statistics,” the report stated. The IMF will award a C grade if its analysis reveals that there are some flaws within the knowledge.
“Such an vital evaluation requires revisiting India’s GDP development figures to confirm their veracity and see if they’re in step with the important thing drivers of financial development,” it added.
Gowda stated in his report that the doc “busts the hype and examines the actual actuality” of India’s financial system.
He added that India’s “growing inequality” is the results of the Modi authorities’s “deliberate coverage selections that prioritize markets and company champions over livelihoods and social protections.”
Ideally, development would spur funding, however that’s not the case in India, the report stated.
“Internet international direct funding was adverse in 4 out of 10 months in 2025, which means traders took out more cash than they introduced in and extra Indian capital was invested overseas,” the report stated.
“From 2017-18 to 2023-24, manufacturing’s share of employment declined from 12.1% to 11.4%, and providers fell from 31.1% to 29.7%. Over the identical interval, agriculture absorbed extra staff and its employment share rose from 44.1% to 46.1%, reversing the usual trajectory of structural transformation,” the report added.
(Edited by Nida Fatima Siddiqui)
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