Country's economy in upswing under PM Narendra Modi: Rao

The BJP today dismissed the Congress' criticism of the current state of the economy as well as the employment scenario in the country.


BJP national spokesman G V L Narasimha Rao said things on the economic front never looked that better than they are at present.


Addressing a press conference at the state BJP headquarters this evening, Rao said the country has been the largest recipient of Foreign Direct Investment (FDI) in the last two-three years and that significant avenues have opened up for jobs.


"We are now among the toppers in the World Economy Lead Table. The World Bank rated us as the fastest growing large economy in the world with an estimated 7.3 per cent growth rate. The Centre for Economic and Business Research projected that India will be the fifth largest economy in the world in 2018," the BJP leader said.


Hailing the "remarkable turnaround", the BJP leader said that only in the year 2013, the country was rated as one of the five most weakest economies.


He said the turnaround was possible because of a "strong foundation" laid by the Narendra Modi government in the last three-and-a-half years with a strict economic discipline and reforms, he said.


"From scams (during the ten-year UPA rule) to (people-oriented) schemes under Modi, the economic progress has been tremendous," the BJP spokesperson said.


The Congress has been critical of the state of economy under the Modi government.


Senior party leader former Finance Minister P Chidambaram had said that the economy was poorly managed and was not able to attract investments and not able to create jobs.


"The truth, again, is that 2017-18 will end with 6.5 per cent growth, maybe even lower," he had said.


Rao said that public investment in infrastructure had risen tremendously, resulting in growth.


"Private investments too picked up after a slowdown in the first two years (of Modi rule). The slowdown was because of a legacy problem as we could not optimally utilise the capacities built," he said.


He termed as a "political propaganda" the reports that the employment scenario was bleak in the country.


Rao said the National Sample Survey Organisation and other surveys did not properly capture the employment scenario.


"The NITI Aayog is now conducting more exhaustive surveys which will reveal the true picture. The government has also focused in a big way on informal and unorganised sectors that will be a significant avenue for job creation. With Mudra and other schemes, we expect over four crore jobs to be created soon," the BJP leader said.


While the economy reflected a "Rising India", the political scenario held the mirror to a "Rising BJP' under a "Rising Modi", he said.


"Only three days ago, Gallup International had come out with a survey report rating Modi as the third most popular leader in the world. This is an unprecedented and extraordinary recognition for the country's Prime Minister and an acknowledgement of his leadership not only by Indians but also people of the world," Rao said.


He said while the BJP was in power on its own in 14 states, its allies are ruling another five states."In the next three months, we will win Karnataka and possibly Mizoram and Meghalaya that will firmly establish the BJP's footprint across India. The BJP's victory in Karnataka will spur greater momentum for the party in the south," Rao added.


Source:-Pti News