Modi govt is marching India into ‘middle income trap’: Congress

NEW DELHI: Ahead of the Union Budget, the Congress on Thursday came out with a ‘Real State of the Economy’ report claiming that the Modi government is marching India forward into the middle income trap, which will make the country uncompetitive, underproductive and unequal.

The opposition party also said that India’s GDP growth for 2024-25, as per government data, is expected to be 6.4% but this rate of growth is not a cause for celebration as India needs a sustained GDP growth of 8 per cent if it wants to encash its historic demographic dividend.

AICC Research Department chairperson Professor M V Rajeev Gowda and his team have compiled the report, which was released by senior Congress leader and former finance minister P Chidambaram at the party’s AICC office at 24, Akbar Road here on Thursday. PTI