During the April to June quarter, India’s economy demonstrated impressive growth of 7.8% year-on-year, despite challenges stemming from the ongoing conflict in West Asia and rising energy costs. On Tuesday, the Bharatiya Janata Party (BJP) praised the effective economic management and stable governance provided by Prime Minister Narendra Modi’s administration.
Former Union Minister Ravi Shankar Prasad commented that the GDP growth is a testament to India’s robust economic management amid global adversities. He emphasized that under Modi’s leadership, India has transitioned from being part of the “Fragile Five” economies during the United Progressive Alliance (UPA) era to emerging as a significant global economy.
Prasad called for Congress leader Rahul Gandhi to apologize for his previous remarks labeling the Indian economy as “dead” and for suggesting that a severe economic downturn was imminent. He stated, “The current growth rate of 7.8% speaks for itself. Shouldn’t there be a sense of accountability?”
He criticized Gandhi for lacking thorough research, implying that he relies on prepared statements without understanding the context. “Has Rahul Gandhi made it his mission to undermine the morale of the Indian populace?” Prasad remarked during a press briefing at the BJP headquarters.
Furthermore, he condemned Gandhi’s claims about the Indian economy being moribund and the impending economic catastrophe as “irresponsible, false, baseless, and mischievous.”
Prasad noted the significance of the GDP growth figure, highlighting that the economic challenges arising from the Gulf crisis, including issues related to oil supply and global uncertainty, began in January-February. He pointed out that despite these obstacles, India’s economy maintained a growth rate of 7.8%.
In comparison, he cited the economic performance of other countries during the same timeframe: Canada at 1.5%, Germany at 1%, the UK at 2.1%, Malaysia at 6%, and South Korea at 3.7%. The United States also experienced a growth rate of approximately 2%. “While the world faced turmoil due to the Gulf crisis, India has shown resilience,” he asserted.
Prasad highlighted that various sectors, including manufacturing, trade, construction, and services, have all played a role in this growth, crediting the central government’s policies. He concluded by stating that the Modi administration fosters a positive environment for wealth creators, encouraging them to contribute to the nation’s progress.
