Indian GDP grew faster under UPA rule than NDA regime--Cong
The Congress has strongly refuted the opposition's 'misleading propaganda that described that the economy is in shambles and asserted that under the UPA rule the GDP grew manifolds than in the previous NDA regime.
'Their argument is that India was shining under the then NDA regime and the growth has come to a halt under the UPA, but this is totally wrong',the party claimed in a communique.
Quoting figures, the party has claimed that under the UPA rule, India's gross domestic product(GDP) recorded three-fold growth and the GDP growth rate was almost four times than the corresponding data in 2004.
"When the NDA came to power in 1998, India's GDP stood at USD 423 Billion and When they were voted out in 2004, this had grown to USD 617 Billion. During that era, the GDP had grown by USD 194 Billion, showing an annual growth of about USD 32 Billion", the communique pointed out.
Today our GDP is USD 1,841 Billion, an increase of USD 1,224 Billion, that means under the UPA, India's GDP has grown at USD 122 Billion every year, the party held.
The BSE Index, Sensex,--that is seen as an indicator of the country's economic health-., was at 5123.23 point when Congress-led UPA took over the government in 2004 and that today is touching the mark of 22551.49 points-an increase of almost 4.5 times in 10 years, it said.
"These aren't mere figures, this is our report card. The economy has tripled in the past 10 years and the BSE Sensex has increased by around 4 times. Yet, our opponents never tire from saying that there has been no development", the party taunted. 'We acknowledge that in the last two years, the pace of economic growth has slowed down a bit. But then who is responsible for it? Those who spared no opportunity to disrupt our Parliament, shouldn't they be held responsible? We believe that debate must take place in Parliament, yet all they do is indulge in rhetoric in TV studios', party said.
"First, they slow down the economy and then they try to misguide the people by making it an election issue", the ruling party held adding mere speeches and rhetoric cannot ensure the progress of a nation. For that, we need right policies', it concluded.
In a bid to woe voters on this 'impressive performance' the ruling party urged the people to introspect. The party said 'Before casting vote, ask yourself the question whether your family has moved forward in the past ten years?'.
(Posted on 06-04-2014)