Public Debt up by Whopping 57% Due to Failed Modinomics: Congress

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New Delhi: Accusing the BJP-led government of ‘wrecking’ India’s economy, the Congress claimed Tuesday that public debt increased by over Rs 30 lakh crore in 57 months of the Modi dispensation, pushing the nation into an ‘unending debt cycle’.

Citing Finance Ministry documents, Congress’ chief spokesperson Randeep Surjewala said that between March 2014 and December 2018, India’s public debt increased by a ‘whopping and shocking’ 57 per cent, going up to Rs 83,40,026 crore.

“The sensational and shocking documents of the Finance Ministry now reflect that the Modi government has taken loans of Rs 30,28,945 crore post March 2014-Dec 2018. In 70 years, the total debt of the country up to March 2014 was Rs 53,11,081 crore. It is clear that Modi ji took loans on India’s resources and completely decimated India’s economy,” Surjewalla alleged.

Surjewala claimed that every individual who is facing a challenge of livelihood has been burdened by the debt taken by Prime Minister Narendra Modi and his government due to their ‘sheer economic mismanagement’ and for publicity as well as helping their ‘crony capitalist friends’. He said 130 crore Indians have been burdened with an additional loan of Rs 23,300 per person in four years and nine months of the Modi government.

The Congress spokesperson also termed the Modi government a ‘habitual offender’ in hiding data. Surjewala stated that it refused to disclose the extra debt that it took from December 2018 to March 2019.

 Read more: Public Debt up by Whopping 57% Due to Failed Modinomics: Congress

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