By News18
New Delhi, Jul 7 (PTI) The Congress on Monday accused the Modi government of focussing on big businesses and alleged that the growth of such business groups is not accelerating economic growth.
In a post on X, Congress general secretary (communications) Jairam Ramesh said the industry鈥檚 share in GDP has been declining, just as concentration in the industry is increasing and this, in turn, is one of the main causes of inflation due to rising prices.
鈥淲hile tall claims continue to be made by the PM and his drumbeaters on industrial growth, three facts are incontrovertible 鈥 Industry鈥檚 share in GDP has been declining, just as concentration in industry has been increasing. This has raised prices for consumers and is one of the main sources of inflation,鈥 he claimed in his post.
Ramesh said within the 鈥楪25鈥 in Indian business, there is a 鈥楪5鈥 whose increasing share is coming at the expense of the remaining 鈥楪20鈥.
鈥淏ig business groups are growing even bigger but that is not acclerating economic growth鈥 in fact, it may be doing the reverse,鈥 the Congress leader claimed and cited an article in this regard.
鈥淕overnments must bet big on small and medium business. Instead, the Modi Government is fixated on big business,鈥 Ramesh said.
The Congress has been accusing the government of promoting big business houses, alleging that it is engaged in crony capitalism.
Earlier, the opposition party also took on the government over its assertion that India is among the world鈥檚 most equal countries and said the Modi government cannot simply wish away the stark reality of deepening inequalities by 鈥渄octoring data.鈥 Congress鈥 attack came after an official release, citing World Bank data, said inequality in India has come down significantly between 2011-12 and 2022-23, making it the fourth-most equal country globally. PTI SKC SKC AMJ AMJ