Pakistan

Rising Inflation and Stagnant Wages Lead to Growing Discontent in India

New Delhi:A growing number of people in India are becoming disillusioned with their standard of living as stagnant wages and soaring inflation cast a shadow over future prospects. The country’s domestic budgets have been severely impacted by continuous inflation, which has diminished people’s spending power. India, the world’s fifth-largest economy, is expected to record its lowest growth rate in four years, a concerning development for Prime Minister Narendra Modi.

According to the latest survey by polling agency C-Voter, more than 37% of participants in a pre-budget survey stated that they expect a decline in the standard of living for ordinary people next year. This is the highest rate recorded since 2013, the year before Modi became Prime Minister.

The C-Voter survey, which included responses from 5,269 adults across various states in India, found that nearly two-thirds of respondents felt that inflation has not been controlled and that prices have increased since Modi assumed office. More than half of the participants indicated that inflation has negatively affected their standard of living.

Modi is expected to announce measures in this week’s annual budget aimed at supporting the weakening economy, increasing incomes, and offering relief to the struggling middle class. Nearly half of the survey participants reported that their personal income remained unchanged last year, while expenses have risen, with about two-thirds of respondents struggling to manage escalating costs.

Despite India experiencing the fastest economic growth globally, the job market in India fails to provide enough opportunities for its young population to earn regular wages. In the previous budget, the government announced plans to spend nearly $24 billion over five years to create jobs through various schemes. However, due to ongoing discussions about the details, these programs have yet to be implemented.

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