‘Debt of achche din’: Cong slams govt over rise in per capita debt

New Delhi: The Congress on Wednesday slammed the Centre over the rise in the per capita debt of individual borrowers and said the government is constantly trying to hide the real shortcomings by taking the help of statistics and experts, but the debt burden on the country is at its peak under “Modi Raj”.

Congress general secretary in-charge communications Jairam Ramesh shared screenshots of media reports to attack the government.

One media report stated that the average debt of every person in the country has increased by Rs 90,000 in the last two years and the per capita debt of individual borrowers increased to Rs 4.8 lakh in March 2025 from Rs 3.9 lakh in March 2023.

The other report shared by Ramesh said 25.7 per cent of the common man’s disposable income is going towards paying EMIs of loans which are non-productive for him in the future. “Debt of ‘Achhe Din’! The Modi government has ruined the country’s economy in the last eleven years. No effort was made to improve the lives of the people, all the policies were made only for the capitalist friends, the losses of which are being suffered by the people of the country today,” Ramesh alleged in a post on X.

This truth is coming in front of us every day in some way or the other, he said

Ramesh said the latest report of the Reserve Bank of India has revealed a worrying picture of India’s economy.

The government is constantly trying to hide the real shortcomings by taking the help of statistics and experts, but no one can deny the truth that the debt burden on the country is at its peak in “Modi Raj”, Ramesh said.

“In 2 years, the per capita debt has increased by Rs 90,000 to Rs 4.8 lakh,” he said. “25.7% of the income is going only in repaying the debt. The maximum 55% of loans are going for so-called credit cards, mobile EMIs etc., which means that in this inflation, families are not able to survive with their income and they are forced to take loans,” he added.