'Congress Manifesto Will Lead To Bankruptcy Like 1991', X User On Promises Party Listed To Lure Voters

'Congress Manifesto Will Lead To Bankruptcy Like 1991', X User On Promises Party Listed To Lure Voters

A suspicion had arisen as a X user stated in his Twitter thread that the Congress's manifesto, if implemented, might jeopardize the Indian economy, given that it promised the people of India better results than the ruling party when it was announced a month ago.

Manasi KambleUpdated: Monday, May 06, 2024, 03:10 PM IST
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Sonia Gandhi, Malikarjun Kharge and Rahul Gandhi displaying Nyay Patra (Congress Manifesto) |

Mumbai: Congress manifesto has been under scanner since it was released. While opposition BJP is targetting the party for its redistribution of wealth, a user on social media platform X (formerly Twitter) listed financial problems with the promises Congress party has made in its manifesto and claimed that it could lead to bankruptcy like in 1991.

An X user named Jayesh Mehta, @JMehta65 recently posted a thread of 15 tweets expressing his concerns and arguments about the Congress manifesto announced by the Indian National Congress (INC) for the 2024 Lok Sabha elections. He believes that if the four promises mentioned in the Manifesto gets implemented and if Congress comes to power, it may pose a threat to the Indian economy and could lead to bankruptcy similar to what was observed in 1991.

First Promise - Apprenticeship to Graduates

The first promise in the Congress Manifesto is to provide apprenticeships to recent graduates with 1 Lakh rupees sent to the students.

Sharma argues that assuming approximately 1 crore students graduate each year with graduation/diploma courses, the annual expenditure for the Congress government would be: 1,00,00,000 (graduates) x ₹1,00,000 (money sent by the government) = ₹1 Lakh crores.

Second Promise - 30 Lakh Government Jobs

According to the post, if the Congress government implies on its promise to fulfill 30 Lakh government jobs to the people, with average salary to one employee would be ₹ 6 Lakhs per annum. Leading to the annual expenditure of these salaries to ₹1.80 Lakh crores rupees.

Third Promise - One Lakh To Woman In Poor Family

In the third promise, Mahalakshmi, of the manifesto, Congress promises to send 1 lakh rupees each year to one female of a poor family.

Jayesh Mehta assumed there are 16 crore poor families in India and providing each family's one female with 1 lakh rupees will lead to the total expenditure of ₹16 lakh crores rupees annually to the central government.

Fourth Promise - Farm loan waiver

As per the manifesto, Congress has promised to waiver the farmer's loan which as per January 2024 makes up to ₹20 lakh crore. Assuming Congress waives off at least 50% of the said promise, the sum waivered would be approximately ₹10 lakh crores.

Total Expenditure

The user argues that if Congress practically approached and execute the Manifesto the total sum of expenditure would be at ₹28.80 lakh crores.

The user also referred to the Dr. Swaminathan report and create an MSP which would mean that the government will procure crops from farmers at Cost + 50% profit. The user raised his speculations about the farm crops which he argues may lead to Congress governments procuring at much higher prices, with increased food subsidy would increase by lakh crores.

Sharma also heavily criticised the recent statements by Congress leader Rahul Gandhi, calling him out on his replies on an old video where former Prime Minister Manmohan Singh is seen saying "Paise jhaadh pe nahi ugate" statement.

Sharma criticised that by usurping the temple treasures, 50% inheritance tax, socio-economic justice tax, snatching away your cash, property, jewellery, etc., unbridled printing of currency notes, and hike in income tax that Congress can resource the amount of ₹28 lakh crore rupees required to fulfill the promises mentioned in the manifesto.

This post has gone viral on X with users agreeing with his criticisms and the numeric evidence he provides to support his claims on the manifesto. He stated that if the manifesto is implemented, the middle class will be the group that will be most affected.

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