Dear Friend Fast economic development is critical to ensure employment for the youth and security of the country. India is currently going through one of the worst phases as far as economic development is concerned. High inflation and low growth have led to stagnation in job creation. The social impact of the economic crisis is frightening – as shown by increasing number of suicides and skyrocketing crime graph. The present economic crisis is due to policy paralysis of the UPA government resulting from high level of corruption and lack of vision for the country. NDA rule In contrast, the BJP led NDA government had written a golden story of India’s economic growth and kept inflation under tight control. GDP: When NDA started its government in 1998, the GDP growth rate was merely 4.5%. With much hard work, the NDA took the GDP to higher levels and by 2004, it had risen to 8.5%. Even the UPA government had conceded that they had inherited a very healthy economy from NDA in 2004. After ten years of UPA misrule, the GDP has fallen back to 4.5% in 2013-14. Inflation: 2000 - 4.02 %, 2001 - 3.77 %, 2002- 4.31 %, 2003 - 3.81 % 2004 - 3.77 % UPA misrule UPA has ruined the India’s growth story Growth Rate During UPA 2009-10 2010-11 2011-12 2012-13 GDP It was +ve Grew by just 7.8% in the IVth quarter, mainly due to poor performance of the manufacturing sector, as against 9.4% in the same three-month period of the previous fiscal. GDP growth slipped to 6.2% from the earlier provisional estimate of 6.5%. The GDP during 2012-13 is estimated at 5% as compared to a growth rate of 6.2 per cent in 2011-12, according to the Advanced Estimates released by the (CSO). RBI’s estimate is also same. Fiscal Deficit 2009-10 - 6.6% of GDP, which is slightly, lower than projected 6.7%. Fiscal deficit rose 24.89% in the financial year to Rs 4,12,307 crore over last year, against the revised estimate of Rs 4,14,041 crore. Fiscal deficit (2010-11)— 4.7% of GDP. It stands pegged much lower than the revised estimate of 5.1%. The fiscal deficit in monetary terms stood at Rs. 3,69,043 crore for the year ended March 2011 which works out to 4.69% of the GDP of Rs. 78,75,627 crore. Fiscal deficit (2011-12) Rs 5,20,000 crore, or 5.9% of GDP Net tax receipts were Rs 6, 42,000 crore and total expenditure was Rs 13, 19, 000 crore during the fiscal year. Indias fiscal deficit may be less than the provisional figure of 5.2% for the 2012-13 - P. Chidambaram. Index of Industrial Production (IIP) Was +ve The growth rate of eight infrastructure sectors slowed down to 2.2%. The Index of Industrial Production (IIP) contracted by 3.5% in March 2012 as compared to expectations of a 1.5% expansion and a robust 9.4% growth in March 2011.The Index of Industrial Production (IIP) contracted by 3.5% in March 2012 as compared to consensus expectations of a 1.5% expansion and a robust 9.4% growth in March. IIP in 2012-13 is expected to fall to 5.8% from the earlier predicted rate of 6.4%. This is primarily due to downward revision of growth in mining and electricity industries, Centre for Monitoring Indian Economy (CMIE). Inflation The average inflation of India in 2009 - 10.83 % The average inflation of India in 2010 - 12.11 % The average inflation of India in 2011: 8.87 % Painting a grim picture of the price situation in coming months, the RBI said inflation will remain sticky at current level of around 7 per cent in 2012-13 mainly due to high oil prices and increase in tax rates. It is time to bring a positive change in India. India’s growth story needs to be written again. The BJP has done this in the past and can do it again under the leadership of Narendra Modi who has rewritten the success story of Gujarat as the most prosperous state of India. We would request you to vote for a prosperous India in General Elections 2014 and be a part of the India’s growth story. You can start doing this right now by sharing this email with all those who you think can be part of this campaign to build a new India Sincerely Regards, Forum for Building New India
Posted on: Fri, 21 Mar 2014 09:57:42 +0000
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