New Delhi/Ground Bureau — Political tensions have escalated across India following the Reserve Bank's decision to hike the repo rate, with the Congress party launching massive protests in Shimla, Mumbai, and other cities. Party leaders launched a scathing attack on Prime Minister Modi, accusing the administration of inflicting severe financial pain on ordinary citizens through relentless inflation.
Financial experts note that the repo rate hike will directly increase loan interest rates, compounding the financial burden on middle-class families already struggling with high living costs. While the ruling government defends the monetary policy as a necessary step to stabilize the economy amid global challenges, the opposition continues to mobilize citizens on the streets, promising further protests if relief measures are not announced.
