New Delhi
The Congress on Wednesday strongly criticised the central government over the sharp rise in per capita debt, accusing it of hiding the country's economic distress behind statistics and expert opinions. Congress leader Jairam Ramesh cited recent media reports and RBI data to highlight the growing debt burden under the Modi government.
Ramesh said the average debt per person has increased by ₹90,000 over the last two years—from ₹3.9 lakh in March 2023 to ₹4.8 lakh in March 2025. He added that 25.7% of a common citizen’s disposable income is now being used to repay EMIs, most of which are for non-productive loans such as credit cards and mobile EMIs.
He alleged that in the last eleven years, government policies have favoured only big corporates, leaving ordinary citizens burdened by rising costs, unemployment, and mounting debt. Ramesh also pointed out that India's external debt reached $736.3 billion by March 2025, a 10% increase from the previous year.
Ramesh questioned why, despite most public projects being funded through public-private partnerships, the country's debt is still rising. He said people are forced to borrow just to survive amid inflation, while the government’s capitalist allies continue to profit.
Youth are jobless, farmers are in crisis, inflation is soaring, and debt is mounting—this is the reality of ‘Achhe Din’, he concluded.
