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Did Namo do it better?


An eminent economist recently published a comparitive study of India’s growth record during the UPA-2 era ie. 2009-2014 and the Modi era of 2015-2019. The state of the economy is reflected in the GDP growth rates. As per the revised official statistics, the average annual GDP growth during 2009-2014 was 6.7%, as against 7.5% during 2015-2019, which makes the growth rate during the Modi tenure look far better. But this consistent and high growth of the Indian economy, during the Modi tenure, does not really reflect in the ground reality of our economy, which tells a different story. The economist therefore, instead of using the GDP growth figures, compared the two eras on the basis of growth in economic indicators like domestic sales of two wheelers, cars and tractors, consumption of petro products, airline passenger growth, income tax and corporate tax collections, household savings, inflation etc. and concluded that the economic performance during the Manmohan Singh era of 2009 to 2014, was better than that during the Modi era of 2015 to 2019. The fact is that there have been doubts about the veracity and genuineness of these figures of GDP growth. We discuss the parameters by which the two eras can be compared, why few sectors have suffered and the reasons for such mis-matches. #NarendraModi #ManmohanSingh #UPA #NDA #GDP

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