Debt on every Indian increased during Modi govt, says Congress

The Congress on Thursday alleged that due to economic policies of the Narendra Modi government, the debt on the country has increased manifold and each Indian is under debt of more than Rs 1 lakh.

Addressing a press conference, party spokesperson Gourav Vallabh said: “One of the most worrying aspects is the spiraling debt pattern. The outstanding internal and external debt and other liabilities of the Central government at the end of 2022-2023 are estimated to Rs 152.17 lakh crore, as against Rs 55.9 lakh crore at the end of 2013-14. So, per capita debt on us increased from Rs 43,124 (March 31, 2014) to Rs 1,09,000- (an increase of 152 per cent in the last 9 years).”

He also alleged that the debt, “being offered on a platter to some friends of the government, has created an anxious position for the nation, on top of the national debt obligations”. Raising the issue of NDTV, he also alleged that one person is being given loans by banks due to pressure from the government.

“Who from the government is putting pressure banks such as the SBI to grant loans of such proportions putting the national economy and banks at colossal risk? Why are the Finance Ministry and SEBI sitting idle on the entire hostile acquisition episode of a leading TV news channel? What is the Modi government’s plan to save the economy and specific sectors from collateral and cascading damage in case of default or loan repayment delay…?” he asked.

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