New Delhi: Targeting the Modi-led union government over economic policies once again, the Congress party mentioned the ‘Blume Ventures’ report, which raised an alarm over piling household debt and dwindling savings of Indian families. Senior party leader Priyanka Gandhi Vadra also expressed worry over growing economic inequity, saying that the elite continue to enrich themselves while the masses flounder.
Citing aspects of inflation and economic inequality, Priyanka Gandhi said, as per the report of the ‘Blume Ventures,’ “Of India’s 1.4 billion population, almost 1 billion cannot save any money beyond their basic needs.”
The Lok Sabha MP also stated that the gap between the rich and the poor was widening. She said, “The income inequality in India is simply horrendous. The top 10% of richest people take almost 57.7% of national income, while the wealthiest 50% have only 15% of the share. In addition, middle-class savings are at a 50-year low, and wage growth has stagnated for even salaried workers for a decade. The rich, which by their nature only get richer.”
She criticised the ruling Bharatiya Janata Party (BJP), stating that the economic injustices during their rule are disproportionately impacting the poor and middle class.
Congress party general secretary Jairam Ramesh, too, echoed these concerns, citing the same report, and said there was an ”exponential growth” in household debt that points to “falling real income” and “shrinking savings.”. He claimed that India is currently facing a period of severe sluggishness in private investments.
Jairam Ramesh, former Union Minister, commenting on the Indus Valley Annual Report 2025, which has just been released The report provides a comprehensive yet concise analysis of India’s development and startup ecosystem. One of the more concerning findings of the report is its creep into household balance sheets.
Ramesh added that the increase in household debt resulted in lower savings, a perk-up flight of concern. India is experiencing an unprecedented slump in private investment: Scindia—Midya Today. This isn’t an issue that has just emerged; the real underlying factor is stagnant real wages for salaried workers—and informal sector rural workers.”
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