Urban middle class 'shrinking', when will PM recognise this reality: Congress

Congress leader Jairam Ramesh highlighted India's economic struggles, citing declining household savings, a cyclical downturn impacting corporate earnings, and job losses due to technological advancements. These factors, according to a report by Marcellus Investment Managers, have led to a shrinking urban middle class and reduced consumer spending, even in the FMCG sector.