The “high GDP growth” of 7.6 per cent is indicative of “the strong economic performance” under the leadership of Prime Minister Narendra Modi in last two years which has enabled the country to march as “the fastest growing large economy in the world”.
Stating this at a Press conference, BJP general secretary Bhupender Yadav hit out at the Congress for its opposition to the Government’s legislative agenda, saying while for Modi, democracy was “form of and by people”, for Congress, people meant a family.
India has left behind the second largest economy of the world, China, which has remained at 6.7 per cent, asserted the BJP leader .
“Prime Minister Modi has led the country to become the fastest growing economy in the world. Under the stringent financial management and economic skills of Finance Minister Arun Jaitley, India has reached the GDP of 7.6 per cent to become the fastest growing large economy. This achievement is more significant in the shadow of bad monsoons in two preceding years and not so encouraging world markets,” said Yadav.
The party general secretary skirted questions over whether the policies of Reserve Bank of India under its Governor Raghuram Rajan also contributed to the growth, saying Modi was leading the team and everybody was its members.
BJP MP Subramanian Swamy had recently launched a series of attacks on Rajan and demanded his ouster.
Yadav said the economy has shown all-round growth, including in manufacturing and agriculture, adding 25 per cent growth in unorganised sector meant that numbers of jobs were also increasing.
With questions over whether the growth was seeping down to the masses, he said the per capita income has seen an increase of six per cent and it coupled with growth in unorganised sector indicates that rural economy is also showing momentum.
“Our growth and success are even more significant as India has recently faced two consecutive draught years which affects agriculture negatively. Even then, the farm sector has grown positively. Farm sector contributes around 15 per cent to the GDP and almost 50 per cent of population is directly or indirectly engaged in it. Thus positive growth is more cheering,” Yadav said.