New Delhi witnessed a sharp political attack on Tuesday as the Congress party unleashed a scathing report targeting the central government’s economic policies. Titled ‘Real State of the Economy 2026,’ the document accuses the administration of fostering ‘jobless growth,’ where economic expansion fails to translate into meaningful employment opportunities.
The report meticulously dissects employment trends from 2017-18 to 2023-24, revealing a troubling shift. Manufacturing jobs plummeted from 12.1% to 11.4% of the workforce, while the services sector saw a dip from 31.1% to 29.7%. In stark contrast, agriculture’s share surged from 44.1% to 46.1%, signaling a desperate return to low-productivity rural jobs amid industrial stagnation.
Congress highlights the precarious nature of new job creation, predominantly in informal and gig economies. Shockingly, 40% of salaried workers lack contracts, paid leave, or social security, painting a picture of vulnerability and exploitation.
Challenging official data integrity, the report questions the widening chasm between government statistics and ground realities. It cites the IMF assigning India a ‘C’ grade for data reliability, underscoring persistent doubts.
Amid claims of robust growth, the report raises red flags: Why is the cost of living soaring if inflation is officially at 0.5%? Household savings have evaporated, debts are ballooning, and the rupee emerged as Asia’s worst-performing currency in 2025, with negative net FDI in four of its ten months.
Releasing the report, Congress Research Department Chairman Rajiv Gowda declared it exposes misplaced priorities. As inequality widens and corporate profits soar, the absence of quality job creation threatens India’s economic future. This critique demands urgent policy recalibration to prioritize inclusive growth.