"BJP only implements economic terrorism": Kharge accuses Modi govt of promoting monopoly, favouring capitalist cronies
Congress President Mallikarjun Kharge slams the BJP for promoting monopolies and favouring capitalist cronies, alleging "economic terrorism" in India.
Congress President Mallikarjun Kharge has launched a scathing attack on the Narendra Modi-led government, accusing it of practicing "economic terrorism" to benefit a select group of capitalist cronies.
In a series of sharp allegations, the Congress leader claimed that the current administration's economic framework is designed to dismantle competition and hand over control of various vital sectors to favoured business houses. According to Kharge, this strategy is being used to ensure that the BJP maintains its share of the profits while the foundations of economic liberalisation are systematically destroyed.
Allegations of Monopoly and Duopoly
Kharge pointed to several key industries as evidence of a shrinking competitive landscape. He argued that the government’s priority has been to eliminate competition in sectors ranging from digital payments to cement and food delivery apps. To support his claims, he cited the dramatic shift in the telecom and aviation industries:
- Telecom Sector: Kharge noted that while there were 13 players in the industry before 2014, only three major private players remain today.
- Aviation Sector: He claimed the number of major players in domestic aviation has plummeted from seven before 2014 to just two.
"The objective of Modi ji's economic policy is to hand over control of the economy to his favoured capitalist cronies," Kharge stated, alleging that the destruction of competition serves only to fill the BJP's coffers.
Impact on MSMEs and Unemployment
The Congress leader further contended that these policies have had a devastating impact on the grassroots of the Indian economy. He alleged that the rise of monopolies has effectively "locked down" Micro, Small, and Medium Enterprises (MSMEs) and other small-scale industries. This, he argued, has directly contributed to the severe unemployment crisis currently facing the nation's youth.
US Influence and UPI Exemptions
Adding to the critique, Congress MP Jebi Mather raised concerns regarding international influence on Indian policy. She suggested that American interests might be influencing domestic decisions, particularly regarding the UPI payment system.
Mather alleged that as domestic platforms like UPI and RuPay gained global strength, there were attempts by US interests to dictate terms. She specifically pointed to changes in UPI payment charges, suggesting that exemptions and concessions were being strategically applied. According to Mather, these concessions often benefit major Indian business groups in sectors like telecommunications and power, specifically naming Reliance and Adani in the context of these industry shifts.