Overview
- On Saturday, June 20, Congress president Mallikarjun Kharge posted on X that households are “perishing” under what he called the Modi government’s mismanagement of the economy and he sharply criticised the ruling party’s focus on attracting defectors.
- Kharge cited specific indicators in his post, saying retail inflation has hit a 16-month high, food inflation is about 4.78 percent, medical costs exceed 15 percent, the rupee is weakening, foreign investors are pulling back, and unemployment is rising.
- News reports note recent defections and mergers of opposition MPs and MLAs into pro-government camps, including splits within Shiv Sena, reports of 20 TMC members joining the NCPI to back the NDA, and earlier AAP Rajya Sabha mergers.
- RBI governor Sanjay Malhotra warned the Monetary Policy Committee must stay vigilant about inflation after petrol prices were revised three times in May because of supply stress linked to disruptions around the Strait of Hormuz.
- There were no new fiscal measures from the Centre reported in response to Kharge’s claims and analysts should watch whether sustained fuel-driven price pressure prompts RBI action, forces government relief steps, or deepens voter anger over living costs.