Archive · 8 Oct 2026
Jairam Ramesh Criticizes Government Over Economic Pressures
Congress leader Jairam Ramesh criticized the government’s account of how the economy is doing.
He made his comments after the Reserve Bank of India raised its repo rate.
The rate went up from 5.25% to 5.50%.
Ramesh said this could make loans more expensive and add to people’s debts.
He also said rising prices, unemployment and falling incomes were hurting families.
He pointed to a weaker rupee and claimed foreign investors had taken money out of the stock market.
He warned that the country could face a major economic crisis.
These were Ramesh’s claims and criticisms.
Congress leader Jairam Ramesh accused the government of making “fake claims” about GDP.
His comments followed the Reserve Bank of India’s 25-basis-point repo rate increase, from 5.25% to 5.50%, on October 7, 2026.
Ramesh said higher borrowing costs could increase debt burdens and reduce spending, investment and business activity.
He cited inflation, unemployment, falling incomes and a weakening rupee as pressures on households.
Ramesh claimed foreign institutional investors withdrew four lakh crore rupees from the Indian stock market over nine months and warned of an economic crisis.
- Who
- Congress leader Jairam Ramesh; the Reserve Bank of India raised the repo rate.
- What
- Ramesh criticized the government over the economy after a 25-basis-point repo rate increase.
- When
- October 7, 2026; Ramesh made his comments on Thursday.
- Where
- India.
- Why
- Ramesh said inflation, unemployment, falling incomes, higher borrowing costs and a weakening rupee were adding to economic pressures.
Ramesh’s criticism
Government position
State of the economy
Ramesh’s criticism
Ramesh accused the government of making fake GDP claims and said people were being squeezed by inflation, unemployment and falling incomes.
Government position
The article does not provide a response from the government or its account of GDP and economic conditions.
Repo rate increase
Ramesh’s criticism
Ramesh said the increase would make loans more expensive and could weaken spending, investment and business.
Government position
The article reports the Reserve Bank of India’s rate decision but does not include a response from the government or RBI to Ramesh’s criticism.
- Repo rate change
- Raised by 25 basis points, from 5.25% to 5.50%.
- Date of rate increase
- October 7, 2026.
- Ramesh’s party
- Indian National Congress.
- Investor withdrawals claimed
- Four lakh crore rupees over the past nine months, according to Ramesh.
- Economic pressures cited
- Inflation, unemployment, falling incomes, a weakening rupee and declining stock market.
- Ramesh’s warning
- He said India was heading towards a major economic crisis.