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PM Narendra Modi

Congress hits back at PM Modi’s Gold redistribution allegations

Following Prime Minister Narendra Modi’s claims about the Congress manifesto proposing the redistribution of gold, the Congress retaliated, asserting that Modi will be remembered as the Prime Minister presiding over the largest sale and mortgage of gold jewelry owned by Indian women.

Addressing a rally in Rajasthan’s Banswara, Modi accused the Congress of intending to redistribute gold belonging to mothers and sisters. He further alleged that the Congress planned to allocate these assets to “infiltrators” and families with more children, referencing the party’s manifesto.

In response, Congress General Secretary Jairam Ramesh took to social media platform X to counter Modi’s assertions. He criticized the Modi government’s economic policies, citing instances such as demonetization, the implementation of GST, and the handling of the COVID-19 pandemic, which he claimed have plunged Indian households into significant debt.

Ramesh highlighted alarming statistics, stating that outstanding gold loans have surged by 300% in the past five years, reaching a historic high of over Rs. 1 lakh crore in February 2024. He labeled these figures as “shameful,” attributing the increase to the distress and desperation faced by families forced to sell or mortgage their gold jewelry.

Furthermore, Ramesh lamented the plight of Indian women, asserting that they have been compelled to surrender over Rs. 60,000 crore worth of gold collateral due to the Modi government’s incompetence and mismanagement during the pandemic. He criticized the publicized auctions of women’s gold by lenders and banks, labeling the situation as a consequence of the government’s negligence.


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