Congress cites IMF report to slam govt; calls for boosting consumption, policy
The Hindu
IMF report highlights India's sluggish private investment growth, Congress calls for boosting consumption, policy predictability, and rationalizing trade policy.
Citing an IMF report to flag "tepid" private investment growth in India, the Congress on Thursday (March 6, 2025) said the way out of the current "economic slump" needs measures to boost consumption, enhancing policy predictability, and rationalising trade policy.
Congress general secretary in-charge communications Jairam Ramesh said the International Monetary Fund (IMF) has devoted an entire section to "Reigniting Private Investment in India" in its just-released annual India Article IV Consultation Report.
Also Read:Is private investment expected to rise? | Explained
"Somewhat unusually, it is a strong - if implicit- critique of the Modi government's policies and actions," he said in a statement.
"The report underscores the tepid private investment growth in India, noting that 'private corporate investment has been sluggish especially compared with historical averages.'
Notably, the situation is only getting worse, since 'nominal investment growth by private corporates appears to have decelerated further from 21% in 2022/23 to 13% in 2023/24'," he said.
Specifically, investment in machinery and equipment - critical for expanding production capacity - has consistently fallen as a percentage of GDP, Mr. Ramesh pointed out.
High tension in Chennai as police stop BJP leader Tamilisai Soundararajan's signature campaign, leading to clashes with DMK supporters.
Latest kunafa craze in Hyderabad include kunafa chocolate bars, kunafa gelato, donut and dates
Experience unique, themed pop-up dinners in unexpected locations with curated discussions with You Can Sit With Us
In a free-wheeling conversation with The Hindu, Amish Tripathi spoke about the ‘Legends of Shiva’ series, his thoughts on India’s caste system and his take on Sati
Social media personalities face backlash for derogatory remarks on show, Supreme Court grants interim protection from arrest.
Haryana Budget session: Congress leader and former Haryana chief minister Bhupinder Singh Hooda has said his party will strongly raise the issues including ‘paper leak, unemployment, law and order and corruption’
Madras University criticized for insensitive translation of disability term in degree certificates, sparking controversy among activists.
Telangana Industries Minister Sridhar Babu lays foundation for Lenskart's largest eyewear facility near Hyderabad, boosting economy and creating jobs in the region.
Green Humour by Rohan Chakravarty on the environmental implications of India’s waste-to-energy plants
Gandra Jyothi, BRS Bhupalpally president, makes history completing all six world marathons, inspiring others with perseverance and passion.
The 2025 Volvo XC90: Stylish updates, advanced technology, safety features, and Scandinavian design at a premium price point.
BJP MP Tejasvi Surya marries Carnatic singer Sivasri Skandaprasad in Bengaluru, attended by political leaders and musicians.
Renowned music composer Ilaiyarajaa left for London on Thursday (March 6, 2025) morning for the release of his much-awaited debut symphony titled ‘Valiant,’ which will be performed live at Apollo Theatre, London, on March 8, 2025.