New Delhi, Aug 19 (PTI) The BJP on Tuesday asserted that India’s economy is growing at a rapid pace under Prime Minister Narendra Modi’s leadership, and hit out at Rahul Gandhi for questioning the government’s policy, saying the Congress leader’s “doomsday” is coming for him because his politics is not working.
Addressing a press conference at the BJP headquarters here, party national spokesperson Syed Zafar Islam said in the last three years, India’s weighted average growth rate has been 8 per cent, which places the country at number one among the world’s fastest-growing major economies.
“No major economy has grown this fast in the said period,” he said.
Islam said the IMF has recently revised its GDP outlook, raising India’s projected growth rate from 6.2 per cent to 6.4 per cent while the world is struggling with tariffs and other uncertainties.
In an apparent reference to the recent S&P Global Ratings projections, he said, “These days, many kinds of talks are happening regarding tariffs and it is being said this will ruin the country’s economy. But the truth is that the impact of tariffs on India will be the least, the reason being that domestic consumption contributes about 58 per cent to India’s GDP.” The BJP spokesperson said India’s economy is not export-driven, whereas countries like Indonesia, Malaysia or Singapore, which are dependent on exports, will be “badly” affected by tariffs, he said, adding that India, based on its policy strength and local consumption, will easily withstand this challenge.
“Rahul Gandhi has not understood this fact, and, therefore, when he repeatedly makes noise about the economy, he should know that the country’s economy is strong. In fact, doomsday is coming for him because his politics is not working, and after losing elections 90 times, now he is going to lose for the 91st time in Bihar,” he added.
Last week, the S&P Global Ratings upgraded India’s sovereign rating by a notch to ‘BBB’, citing buoyant economic growth against the backdrop of an enhanced monetary policy environment that anchors inflationary expectations.
The impact of US tariffs on the Indian economy will be “manageable”, the S&P also said, adding that a 50 per cent tariff on US exports (if imposed) will not pose a “material drag” on growth.
Islam said, “India’s rating upgraded from Triple B Minus to Triple B Flat with a very positive outlook indicates that the nation’s economy is not only strong but very strong and moving in the right direction.” India’s economy has not only become “stronger” but is also growing at a fast pace due to the policies adopted by Prime Minister Modi, he said.
While the world economy is contracting, India’s economy is receiving only positive signals from international institutions and economists worldwide, he added.
“The Congress always tries to stall the rapidly growing economy, just as they had crippled it during their term (at the Centre),” Islam charged. PTI PK PK KSS KSS
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