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New Delhi, Dec 2 (PTI) The BJP has flayed Congress leader Rahul Gandhi for his remarks on GDP growth rate decline and said his attempt to paint a picture of economic doom, with selective data and "half-truths", is not just misleading but reeks of a "childish" oversimplification of complex realities.
The Leader of Opposition in Lok Sabha had on Sunday expressed concern over India's GDP growth rate declining to its lowest in two years and said the country's economy cannot progress as long as a handful of billionaires accrue its benefits. He stressed that new thinking is required for India's economy and a new deal for businesses should be an important part of it.
Reacting sharply, BJP IT department head Amit Malviya wrote on X, "Your attempt to paint a picture of economic doom, with selective data and half-truths is not just misleading but reeks of 'Balak Buddhi' -- a childish oversimplification of complex realities".
He said crying foul over a 5.4 per cent GDP growth rate by the Congress leader is "laughable when it is one of the highest globally".
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"Compare it to China (4.6%), the USA (2.8%) and the Euro Area (0.9%). Even in a challenging global environment, marked by geopolitical conflicts and supply chain disruptions, India's economy stands resilient, while others falter," Malviya said.
"Is it too hard for you to grasp that this isn't a local issue but a global economic phenomenon? Everyone has seen your track record, when India was counted amongst 'Fragile Five', inflation was in double digits," he added.
The BJP leader said retail inflation increased a bit in October 2024, primarily due to weather-driven disruptions in vegetable supply.
"But let us not forget, the average inflation rate has been 5 per cent since Modi government came to power in 2014, and never touched double digits," he said
It is significantly lower than the 8.1 per cent annual average during the UPA era (2004-14) and was frequently in double digits between 2010-14, he added.
"Perhaps you'd like to explain why inflation was in double-digits during those years, if you truly care about rising prices," Malviya asked Gandhi.
The BJP leader said that Gandhi harps on a supposed unemployment crisis, but India has added 47 million jobs in the past few years, and the worker-population ratio (WPR) has improved to 58.2 per cent in FY 2024 from 56 per cent in FY2023, driven by rising opportunities in both rural and urban India.
The same WPR in 2013-14 was 49.9 per cent, he added
"Declining demand? Really? Domestic auto sales grew by 13.1% Y-o-Y during Apr-Oct 2024, FMCG sales show robust rural demand, and tractor sales have hit record highs. Affordable housing demand, as you point out, is part of an evolving market, but overall consumption trends remain strong. How does this align with your alarmist rhetoric?" Malviya said.
The BJP leader said the Indian rupee has remained one of the least volatile currencies globally and India's forex reserves stand tall at USD 684.8 billion, covering 11.8 months of imports "something your fear-mongering narrative conveniently ignores".
India's economy isn't just growing, it is ascending, he said.
The IMF projects that India will overtake Japan in 2025 to become the 4th largest economy globally, with a GDP of USD 4.34 trillion, he added.
"But of course, why would you mention this when fear-mongering serves your agenda better?" Malviya asked Gandhi
"Your persistent doom-mongering is not just baseless but reflects an inability to acknowledge progress. You don't have to flaunt your ignorance at every opportunity. If you're so keen on playing Economist, at least do the basic homework, instead of recycling outdated talking points," he added.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)
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