Household debt is steadily rising: Congress

The Congress said on Tuesday that “alarm bells” are ringing in the Indian economy and that rising inflation and stagnating salaries are causing people to take out loans in order to pay their daily costs, which is driving them into debt.

Jairam Ramesh, general secretary of the Congress, emphasized that the party’s “Nyay Patra” (manifesto) is a direct reaction to the government’s “failures.”

He said that the most recent data from a major financial services provider demonstrates the disastrous effects of Modi’s policies on Indian families.