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Some fresh and concerning analysis coming out of the RBI’s data: In addition to household savings rates now at historic lows, income growth adjusted for inflation over the past four years is the slowest in the past 40 years! Other key findings are - Net household financial savings have reduced by a fifth in FY23. - Non-housing borrowing has doubled in FY23 which is most likely debt taken on to finance consumption. This data explains why the Modi government is burying the Consumption Expenditure Survey of 2022-23. It will reveal in stark terms how most Indians are getting poorer. Clearly, the vast majority of Indian families are facing extreme levels of Modi-made economic distress — rising inflation, rising debt, slowing household consumption, and falling savings. Mr. Modi cannot escape accountability by suppressing data.

Imagine if Kapil Sibal or P Chidambaram were spotted giggling and raising toasts and chilling with absconder Lalit Modi and CBI accused Moin Qureshi. Noida channels would have done a break dance at India gate. Why so much silence on the ‘eminent jurist’ who is the government’s go to man for all big matters including the committee that will decide the fate of Indian democracy?