Modi government in panic mode on current economic situation: Congress

Key points

• The Congress on Thursday (June 4, 2026) claimed the Modi government is in "panic mode" and "under siege" from within its ecosystem on the current economic situation, asserting that the real problem is that private corporate investment is very tepid within the country.
• Congress leader Jairam Ramesh cited a media channel claim that the Centre is planning to issue an ordinance amending the Income Tax Act to eliminate the 12.5% long-term capital gains tax on investments made by foreign portfolio investors (FPIs) in Indian government securities, as he attacked the government.
• "The Modi government is clearly in panic mode and is under siege from within its ecosystem on the current economic situation," Mr. Ramesh said on X.
• According to a news flash by a TV channel that is plugged into the ruling establishment, the Modi government is planning to issue an ordinance amending the Income Tax Act to eliminate the...