Congress has targetted Bharatiya Janata Party (BJP) over its 2014 pre-poll catchphrase of “Achche Din Aane Waale Hain” time and again. As Finance Minister Arun Jaitley on Tuesday presented some figures on country’s GDP, Congress took a dig at BJP’s poll promise of “achche din” again. “According to the data presented by the Govt. of India today, ‘Acche Din’ will only come after Modiji leaves office in 2019 – take a look! (sic),” Congress party tweeted. The Congress, in a bid to mount attack on Narendra Modi government ahead of Gujarat assembly elections, used a graph presented by Secretary of Department of Economic Affairs, Subhash Chandra Garg (shown above).
The graph shows Chief Statistical Office’s GDP figures for the last few years, while it uses International Monetary Fund’s forecast for India’s GDP growth over the next few years. As presented in the graph, the blue line depicting the state of economy in recent past shows steep decline in GDP numbers in FY 2017 -18. It had touched 8% in 2015-16. For future, the dotted green line suggests the GDP growth will continue to drop reaching somewhere around 6.7% in FY 2017-18, before moving up in FY 2018-19.
The GDP growth is expected to start moving upwards in 2018-19. The graph doesn’t forecast a recovery to 8% growth – which was achieved in 2015-16 – until FY 2021-22.
The graph was presented in a presser where Finance Minister Arun Jaitley announced a massive Rs 6.92 lakh crore infrastructure spending and another Rs 2.11 lakh crore for bank recapitalisation to revive investments as well as growth. Joined by all his five secretaries and Chief Economic Advisor, Jaitley presented “strong” economic indicators to support government contention that GDP growth slowdown has bottomed out and the economy is turning around.
The presentation, titled ‘The India Story: Speeding Up For Take Off!’, highlighted that the economy grew by 7.5 per cent per annum in the three years of BJP-rule since 2014. Jaitley said that India has been fastest growing major economy in the world for past three years. “And our intention is that the high growth economy that India has become, we continue to maintain that position,” he said.
The Congress is hopeful that Prime Mninister Narendra Modi will lose the General Elections in 2019 and “achhe din” will come as the GDP would continue to rise in following years.