Rahul Gandhi Criticizes India’s Economic Shift, GST, and Loan Waivers

By A Staff Reporter

Washington, D.C., USA: Speaking at an event in Washington, D.C., Congress MP and Lok Sabha Leader of Opposition Rahul Gandhi expressed his concerns about India’s economic trajectory, particularly regarding production and economic monopolies. He highlighted the transition in global production from the West to China and India's diminishing role in manufacturing.

Gandhi remarked, "If you look at global production in the '40s and '50s, it was carried out by the United States and the West... The West and India handed that over to the Chinese. China organizes production. West, India, and America organize consumption." He stressed that India's production capacity has sharply declined, singling out prominent industrialists like Adani and Ambani, stating, "If you look at our top businesses, Adani, Ambani, they don't produce anything."

He further criticized India's Goods and Services Tax (GST), labeling it "anti-production" and arguing that large monopolies have stifled India's ability to produce, contributing to rising social tensions and unemployment.

Gandhi also took aim at government policies, claiming, "The Indian government has waived off Rs 16 lakh crores in bank loans to 25 business people." He pointed out that none of these loan waivers benefited small or medium-sized businesses, calling for more equitable financial support for India's struggling producers.