In a post on X, Jairam Ramesh claimed, “This is the real summary of the Modi government's 12 years: a flood of false promises and a cruel blow of inflation and unemployment on the people.”

 

Referring to a news report, he said, “In the Modi government's 12 years, inflation has disrupted the budgets of ordinary families. Now even official government data shows that retail inflation reached a 17-month high of 4.38 percent in June, while in rural India it stands at 4.74 percent.”

 

Ramesh also claimed that along with inflation, there are now concerns that bank interest rates may rise, which could increase the burden of monthly home and vehicle loan installments on the middle class.

 

He asked, “Why do profits go into the pockets of capitalists while the burden falls on the backs of ordinary people?”

 

The Congress General Secretary also questioned, “When will Prime Minister Modi, whom he described as a protector of capitalists, speak about the suffering of ordinary citizens?”

 

Inflation has once again surged in the country. Last month, retail inflation rose sharply, crossing the Reserve Bank of India's (RBI) target of 4 percent. According to the Consumer Price Index (CPI) data, inflation has reached 4.38 percent. This marks the sixth consecutive month in which the inflation rate has increased.

This inflation figure is particularly disappointing because, after five months, the CPI has once again crossed the RBI's target. The Reserve Bank of India has set a medium-term retail inflation target of 4 percent, with a tolerance band of plus or minus 2 percentage points.