The Congress on Tuesday accused the BJP government of “wrecking” the economy and said public debt increased by over ₹30 lakh crore in 57 months of the Narendra Modi government, pushing the nation into an “unending debt cycle.”
Citing Finance Ministry documents, party chief spokesperson Randeep Surjewala said that between March 2014 and December 2018, public debt increased by a “whopping and shocking” 57%, to ₹83,40,026 crore. “The sensational and shocking documents of the Finance Ministry reflect that the Modi government has taken loans of ₹30,28,945 crore post March 2014-December 2018. In 70 years, India’s total debt up to March 2014 was ₹53,11,081 crore. It is clear that Modiji took loans on India’s resources and decimated the economy,” he said.
Mr. Surjewala said every individual was burdened with the debt taken by Mr. Modi and his government because of their “sheer economic mismanagement,” and for publicity and helping their “crony capitalist friends.”
He said 130 crore Indians were burdened with an additional loan of ₹23,300 each in the four years and nine months of the Modi government. The debt per person was ₹40,854 in 70 years up to March 2014, but it had gone up to ₹64,154 in 57 months of the Modi government, he said.
The government refused to disclose the extra debt that it had taken from December 2018 to March 2019. “We searched through the debt documents and they inform us that there would be an extra debt of ₹7,16,700 crore this government would have taken up to March 2019, taking India’s debt to over ₹90,56,000 crore.”
He added that the prime minister is pushing India into an unending debt cycle and is wrecking India's economy by his failed Modinomics.