New Delhi: Congress president Mallikarjun Kharge on Tuesday launched a scathing attack on the Narendra Modi-led central government over the state of the Indian economy, alleging that it has “tanked” under the Prime Minister’s leadership.
Taking to X (formerly Twitter), Kharge pointed out the sharp decline in stock markets and foreign investor outflows. “₹45 lakh crore has been wiped out from the Indian stock markets so far in 2025. Nifty 50 firms have shown the worst quarterly profit growth in five years. Foreign investors have sold over ₹1.56 lakh crore of stocks since October last year, including nearly ₹1 lakh crore in 2025 itself, which has led to wiping out the wealth of small & medium investors,” he wrote.
Kharge also took a dig at Union Finance Minister Nirmala Sitharaman, who on Monday sought to downplay concerns over foreign institutional investors (FII) pulling out funds, attributing it to “profit booking.” She claimed that the Indian economy is performing well and delivering “good returns,” which leads to investors securing profits.
However, the Congress chief countered this argument by highlighting the declining export growth rate under the Modi government. “Export growth during the 10 years of the UPA government (2004-2014) stood at 549.36%, whereas during the 10 years of the Modi government (2014-2024), it has grown by just 24.72% (till April-Nov 2024),” Kharge said.
He also raised concerns over the depreciation of the rupee and its impact on India’s trade deficit, further blaming the government’s economic policies for the current state of affairs.
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