Thanks to RTI activist Chandrashekhar Gaur for exposing the Pradhan Mantri Jan Dhan Yojana amidst the noise about fake GDP growth. According to information received through his RTI, as of August 12, 2026, there were a total of 59,03,74,907 Jan Dhan accounts across the country. However, 5,72,35,490 Jan Dhan accounts have no balance, and 15,36,77,009 accounts are inactive, meaning there have been no transactions in them for a long time. A little calculation of these figures reveals that even those with deposits, including inactive accounts, have an average balance of no more than ₹6,000.

This ambitious scheme was launched soon after Modi came to power in 2014, with the primary objective of encouraging public savings and connecting them to social security schemes. These figures show that this scheme, like demonetization, has failed to achieve both its objectives. Under this scheme, the general public was allowed to open Jan Dhan accounts with zero balance. The opening of over 59 crore accounts means that a large portion of our country's adult population has been connected to the banking system. Using these figures, the Modi government made lofty claims of national development in the Godi media.

But the data clearly shows that there is a vast difference between the claims of development and reality. Over the past 12 years, the total savings of millions of people have not exceeded ₹6,000, meaning they barely manage to save ₹500 a year. Overall, per capita savings are almost zero. From an economic perspective, per capita savings should have increased along with the increase in GDP, but this did not happen. Neither did savings increase, nor did people's standard of living improve. The annual rising suicide figures of farmers and labuors suggest a case of "Than-Than Gopal" or "Rinam Kritva Ghritam Peebet." This clearly means that either the GDP figures are wrong or development is not reaching the people.

But both conclusions are correct. Even economists who once served in the government are challenging the GDP figures with facts. The Modi government claims that "this is the highest real GDP growth rate for the first quarter in the four-year period from 2023-24 to 2026-27." But they are pointing out that, given the extent of falsification in GDP calculations, the GDP for the first quarter of this year does not exceed 2.6 percent. This GDP has not reached the common people of the country, but has been locked in corporate coffers. This is why income and wealth inequality in India is among the highest in the world. There's no need to reiterate the statistics of this inequality ; it's enough to remember that, according to the Modi government's data, 800 million people survive on 5 kg of free rations, yet cuts to the public distribution system continue. Today, half the country's population, including a large number of children and women, suffer from hunger and malnutrition. Government GDP has not changed their fate. The reality of the increase in employment, average wages, and investment linked to GDP is that nothing has increased; devastation is widespread.

When a government is breathing its last, even its inflated balloons burst. This is precisely what is happening to the Modi government at the time of its demise.


The author is an independent writer on  politics, social and agrarian issues. The views are personal.