The Congress party on Wednesday launched a sharp attack on the central government, raising concerns over the increasing per capita debt burden on individual borrowers.

The party accused the Modi-led administration of masking economic failures with selective statistics and expert opinions while the nation's debt continues to surge to alarming levels.

Citing recent media reports, Congress General Secretary in charge of Communications, Jairam Ramesh, in a post on X said that the average debt per person in India rose by ₹90,000 in the last two years.

As per the data, the per capita debt stood at ₹4.8 lakh in March 2025, up from ₹3.9 lakh in March 2023. One of the reports also noted that 25.7% of the disposable income of ordinary citizens is now being used to repay EMIs—largely for non-productive loans such as credit cards and mobile purchases.

Ramesh said this reflects the growing financial distress among households, where income is no longer sufficient to meet basic needs, pushing families into debt.

“This is the debt of ‘Achhe Din’! In the past 11 years, the Modi government has dismantled the economy. Policies have been tailored for a select group of capitalist friends, while the common people bear the brunt,” Ramesh said in a Hindi post on X (formerly Twitter).

He claimed that while the government continues to rely on data manipulation and expert narratives, the truth about the economic crisis is becoming increasingly visible. “The RBI’s latest report has painted a grim picture of India’s economic reality,” he added.

Ramesh further stated that over 55% of the loans taken are for short-term consumer expenses like credit cards and gadgets, signaling that citizens are turning to borrowing just to sustain themselves in the face of rising inflation.

He also pointed out that unsecured loans have now crossed 25% of total lending, raising concerns about financial stability.

Ramesh said the rise in India’s external debt as another red flag. “By March 2025, India’s external debt stood at $736.3 billion—10% higher than the previous year,” he said.

“The youth are unemployed, farmers are dying by suicide, inflation is crushing households, and democratic institutions are being weakened. Meanwhile, the debt on the common citizen keeps mounting, while Modi ji’s close business allies continue to profit,” he alleged.

“If all government projects are now done through public-private partnerships, why is national debt still rising?” Ramesh questioned.

“Why does every citizen of this country now carry a debt burden of ₹4.8 lakh?” he asked.