The Real State of the Economy 2025 report presents a critical assessment of India’s economic landscape, highlighting key challenges such as slowing GDP growth, rising unemployment, income inequality, and declining household savings. It delves into the manufacturing sector’s struggles, weakening welfare policies, and increasing crony capitalism, providing a data-backed analysis of economic mismanagement over the past decade.

The report offers a fact-based, comprehensive perspective on India’s economic trajectory, advocating for policies that ensure inclusive growth and economic justice.

Read the full report to uncover the true state of India's economy.

**[Click here to read English PDF](https://inc.in/media/press-releases/real-state-of-the-economy-english-2025)**

**[Click here to read Hindi PDF](https://inc.in/media/press-releases/real-state-of-the-economy-hindi-2025)**

Real State of the Economy 2025

Since the beginning of the 2024 Lok Sabha elections campaign, the Indian National Congress posed a set of issue-based questions to Narendra Modi to seek answers about his government’s disastrous record. For the past 10 years, Modi has run campaigns centred entirely on lies, distortions, fearmongering, and misinformation. In a span of 72 days, we have asked him 272 questions on the billion-broken promises and the billion betrayed hopes that lie strewn across the country after his ‘Dus Saal Anyay Kaal’. 

This report, which documents the complete failure of the Modi-led BJP government in every Indian state and district, is our attempt to re-centre the conversation on people’s issues.

***[Click Here](https://inc.in/media/press-releases/72-days-272-questions-0-jawaab)*** for our 272 questions for Mr Narendra Modi in English. 

***[Click Here](https://inc.in/media/press-releases/72-din-272-sawaal-0-jawaab)*** for our 272 questions for Mr Narendra Modi in Hindi.

72 days 272 Questions 0 Jawaab

At every stage of its 138-year journey, the Indian National Congress had identified itself with the problems, develop- ment, aspirations and hopes of all the people of India. During the freedom struggle, its foremost aim was to win freedom. It was guided by the wisdom and sacrifice of great leaders like Mahatma Gandhi. After independence, the Congress’ article of faith was the Constitution of India of which Dr Babasaheb Ambedkar was the prime architect.

Since 1947, the Congress has been India’s beacon of hope. Our policies brought about rapid industrialisation in a predominantly agrarian economy, transformed India from a famine-struck country to one that exports food grains to countries around the world, laid the scientific and technical foundations for India’s rise as a global software powerhouse, and built world class institutions in research and higher education whose graduates are seen as at par with the world’s best. Even as liberalisation and reforms caused economic growth to boom under successive Congress governments, our social welfare policies ensured that every citizen was able to participate in the India story. The social welfare net created by the United Progressive Alliance (UPA) such as the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) and the National Food Security Act ensured that India was able to absorb the shocks of the Global Financial Crisis (2008), the Taper Tantrum (2013), demonetisation (2016) and COVID-19 (2020).

Five years ago, on the eve of the Lok Sabha polls, the Congress had published a 54-page manifesto. Based on the record of the first term of the Modi government, we had forewarned the people of the precarious state of our polity and economy, and of the danger of re-electing the BJP/NDA government. Our assessment of the situation in the country has, alas, proved true. Many of the weaknesses and woes have deepened in the last five years. The promises and assurances that the Congress gave in its 2019 manifesto remain valid and doubly relevant today. Hence, we will start with endorsing our 2019 manifesto and urge you to read the statements here as part of this manifesto.

We may recall our forewarning

- We had said, “Youth have lost jobs”. The unemployment rate is 8 percent; among graduates the unemployment rate is over 40%.
- We had said, “Farmers have lost hope”. Farmers had to come on to the streets for 16 months to fight the three farm laws that would have made them tenant-farmers of corporate houses; and the farmers are back on the streets again.
- We had said, “Traders have lost business”. The Goods and Services Tax (GST) laws have squeezed exorbitant tax revenues out of lakhs of traders and constrained free trade.
- We had said, “Micro, small and medium enterprises have lost their confidence”. Lakhs of MSMEs have shut down and are no longer creators of jobs
- We had said, “Women have lost a sense of security”. Crimes against women have increased by 31 per cent between 2014 and 2022.
- We had said “Deprived communities have lost their economic rights”. Scheduled Castes (SC), Scheduled Tribes (ST) and Other Backward Classes (OBC) communities have been deprived of jobs because of the unfilled vacancies in government and other public institutions. Tribal people have been denied their rights under the Forest Rights Act.
- We had said, “Institutions have lost independence”. Every institution, including Constitutional bodies, has been undermined and, in some cases, forced to become subservient to the government.

Our greatest concern was the prevailing ‘climate of fear, intimidation and hatred’. In the last five years, every section of the people has lived in fear; laws and investigating agencies have been weaponised to intimidate people; and through its words and actions the BJP and its affiliates have spread hatred among people belonging to different religious, language and caste groups.

Today, the dangers that we had warned against have become a hard reality.

The economy is in a crisis. Despite the claim that India is the fastest growing large economy in the world, our growth rate has fallen from an average of 6.7 per cent (new series) during the UPA period of 2004-14 to an average of 5.9 per cent during 2014-24. As against the goal of doubling the economy (which the UPA did achieve), India’s GDP in real terms will rise from 100 lakh crore in 2013-14 to only 173 lakh crore in 2023-24, far short of the target.

The decline in the growth rate has serious consequences for the people, especially for those who belong to the poor and middle classes. The impact has fallen on per capita income, consumption of goods and services, and standard of living. Household net assets have declined, household liabilities have increased and families have borrowed more.

Inequality between the rich on the one hand and the poor and middle classes on the other have increased sharply dealing a body blow to the goals of equality, equity, and social and economic justice. A report titled “Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj” by leading global economists, including Thomas Piketty, shows that India under Prime Minister Narendra Modi is more unequal than even under the British Raj. The share of national income earned by India’s top 1 per cent is today at its highest historical levels and is among the highest globally. The rise of inequality has been particularly pronounced between 2014 and 2023.

The numbers of registered and active workers under MGNREGA and the fact that 80 crore people depend on free grain (5 kg per person per month) are definite indicators of widespread poverty. On the Global Hunger Index, India’s rank is 111 out of 125 countries.

The gravest danger is that India may no longer be a truly free and democratic republic. Democracy in India has been hollowed out and we are rapidly sliding to become a one-party and one-person dictatorship. The federal structure is under attack with the central government appropriating most of the central revenues, passing laws on subjects that were hitherto left to the state governments, and using its financial and executive powers to reduce states to municipalities. Governors of non-BJP-governed states are encouraged to paralyse the working of elected governments. Laws and investigating agencies are used to foist false cases against non-BJP leaders to force them to submit to the BJP’s will. The media has been rewarded or intimidated to become a vehicle of propaganda of the government.

Ask yourself two questions:

1. Is your life better today than what it was in 2014?
2. Is your mind without fear as dreamed by Rabindranath Tagore?

The choice is not Congress or BJP, but it is more than that. 

- The choice is Democratic government or Authoritarian rule
- Freedom or Fear
- Prosperity for All or Wealth for a Few 
- Justice or Injustice.

The 2024 general election presents an opportunity for radically changing the style and substance of gover- nance that has been in evidence in the past decade of Anyay Kaal. We appeal to you to look beyond religion, language and caste, choose wisely, and install a democratic government that will work for all the people of India. We appeal to you to vote for the INDIAN NATIONAL CONGRESS.

**[__Read the Manifesto__](https://manifesto.inc.in/)** 

INC MANIFESTO

**YUVA NYAY**, a comprehensive initiative, stands as a beacon of hope for the youth of India, promising to address crucial issues plaguing their aspirations and livelihoods. Let's delve into the pivotal aspects of this initiative

**1. BHARTI BHAROSA**

With an ambitious plan to generate 30 lakh new central government jobs, YUVA NYAY not only tackles unemployment but also instills confidence among the youth regarding their employment prospects. The promise of a structured calendar for these recruitments brings transparency and accessibility to the process, fostering trust in the Congress party's commitment to providing opportunities.

**2. PEHLI NAUKRI PAKKI**

Recognizing the importance of practical experience, YUVA NYAY introduces a groundbreaking scheme offering one-year apprenticeships to all educated youth. At Rs. 1 lakh per year, this initiative not only provides financial support but also equips young individuals with valuable skills and exposure crucial for their professional development.

**3. PAPER LEAK SE MUKTI**

Paper leaks have long been a hindrance to fair and merit-based selection processes. YUVA NYAY takes a decisive step towards eradicating this issue by enacting a stringent law to completely eliminate paper leaks. This ensures the integrity of examinations, fostering a level playing field for all aspirants.

**4. GIG ECONOMY MEIN SAMAJIK SURAKSHA**

The rise of the gig economy has brought about new challenges, particularly concerning the welfare of gig workers. YUVA NYAY acknowledges this reality and pledges to improve working conditions and provide social security measures for gig workers. This not only safeguards their rights but also ensures their economic stability and well-being.

**5. YUVA ROSHNI**

Empowering the entrepreneurial spirit among the youth, YUVA NYAY allocates a substantial Rs. 5,000 crore start-up fund. This fund serves as a catalyst for innovation and growth, enabling young entrepreneurs to realize their dreams and contribute to India's economic progress.

In essence, YUVA NYAY embodies the Congress party's unwavering commitment to nurturing the potential of India's youth, ensuring their meaningful participation in the nation's development journey. Through its multifaceted approach, it seeks to create a conducive environment where every young Indian can thrive and succeed.


YUVA NYAY

**SHRAMIK NYAY**, a visionary initiative aimed at safeguarding the rights and dignity of laborers, encompasses a range of transformative measures to uplift workers across various sectors. Let's delve into the key components of this comprehensive scheme

**1. SWASTHYA ADHIKAR**

Recognizing the fundamental right to health, SHRAMIK NYAY introduces a groundbreaking Right to Health law, ensuring universal healthcare coverage for all citizens. This comprehensive healthcare package includes essential diagnostics, medicines, treatment, surgeries, and rehabilitative and palliative care, guaranteeing access to quality healthcare services without financial barriers.

**2. SHRAM KA SAMMAN**

Upholding the principle of fair wages and dignity of labor, SHRAMIK NYAY establishes a national minimum wage of Rs. 400 per day, applicable to all workers, including those under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). This measure ensures that workers receive just compensation for their labor, lifting them out of poverty and promoting socio-economic equality.

**3. SHAHARI ROZGAR GUARANTEE**

Addressing the employment challenges in urban areas, SHRAMIK NYAY introduces an Employment Guarantee Act tailored for urban regions. This initiative provides a safety net for urban workers by guaranteeing employment opportunities, thereby mitigating unemployment and fostering inclusive growth in urban centers.

**4. SAMAJIK SURAKSHA**

To provide social security to unorganized workers, SHRAMIK NYAY implements life insurance and accident insurance schemes. These initiatives offer financial protection to workers and their families in the event of unforeseen accidents or fatalities, ensuring their well-being and livelihood security.

**5. SURAKSHIT ROZGAR**

In a move to protect the interests of workers, SHRAMIK NYAY aims to halt the contractualization of employment in core government functions. By ensuring stable and secure employment for workers, this measure promotes job stability, reduces exploitation, and upholds the rights of workers in essential government services.

In essence, SHRAMIK NYAY embodies the Congress party's commitment to the welfare and empowerment of workers, ensuring their access to healthcare, fair wages, employment opportunities, social security, and job stability. By addressing key challenges faced by laborers, this initiative strives to create a more just, equitable, and inclusive society where every worker can lead a dignified and fulfilling life.


In Focus

Real State of the Economy 2025

Real State of the Economy 2025

72 days 272 Questions 0 Jawaab

INC MANIFESTO

YUVA NYAY

SHRAMIK NYAY

NARI NYAY

KISAAN NYAY

HISSEDARI NYAY

Bharat Jodo Nyay Yatra

Indian National Congress

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Shri Rahul Gandhi