Congress Calls for Bold Economic Reforms Amid GST and Growth Concerns

The Congress party has issued a strong demand for significant reforms in India's economy, underlining the need for a comprehensive overhaul of the Goods and Services Tax (GST) system. The party argues that current economic growth is skewed in favor of a few major business entities.

Congress general secretary Jairam Ramesh referenced a Nuvama Institutional Equities report, highlighting concerns over stagnating high-frequency indicators such as credit, exports, and GST collections. The report also notes a lack of momentum in private consumption, particularly in sectors like real estate and automotive sales.

With the industry showing a sluggish start to the fiscal year 2025/26, Ramesh calls for an end to 'tax terrorism' and a departure from policies favoring select corporate entities. He suggests these steps are necessary to boost the well-being of rural areas and rejuvenate the economy.

(With inputs from agencies.)