The Congress and 19 opposition parties on Monday accused the BJP-led Central government of "complete mismanagement' of the economy.
In a resolution adopted after their meeting here, the opposition parties also accused the government of failing to contain price rise.
They said there has been an "alarming deterioration" in the livelihood status of the vast majority of people "due to the complete mismanagement of the Indian economy by the Modi government."
"The economic crisis has pushed the economy to the verge of a recession with a record fall in the country's GDP, unemployment levels highest in the last half a century, agrarian distress deepening with rising farmers' suicides, massive closures and lay off in industrial units accomped by rising prices of petroleum products, cooking gas, vegetables, and all essential commodities are making people's lives more miserable," the resolution said.
The parties said the Modi government has created "an economic disaster" and accused it of sharpening communal polarisation.
"Instead of addressing these issues and providing relief to the people, soon after assuming office, the BJP has embarked on a dangerous course of sharpening communal polarization and attacking democratic rights and Constitutional guarantees of the people affecting millions of people and marginalised communities," they said.
The government data released on Monday showed that retail inflation had risen to 7.35 per cent in December 2019 as compared to 5.54 per cent in the previous month.
( With inputs from ANI )