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Amid the spread of 'doom and gloom' by usual suspects on the latest #EconomyNumbers, of what is clearly only a cyclical downturn, some facts.
1) Real GDP Growth: 6.4% at the end of 2014, avg. 7.5% between 2014-19
2) Headline inflation: 10.3% in 2013-14; 4.5% in 2018-19
1/5
1) Real GDP Growth: 6.4% at the end of 2014, avg. 7.5% between 2014-19
2) Headline inflation: 10.3% in 2013-14; 4.5% in 2018-19
1/5
Some #EconomyNumbers facts in to put debate in context:
3) Food inflation: 2009-14: 11.2%; just 3.5% in 2019 at end of NDA-01
4) FDI inflows (gross): 2014: $189.5 billion; in 2019: $283.9 billion
5) Foreign Exchange Reserves: 2014: $ 304.2 billion; $412.9 billion in 2019
2/5
3) Food inflation: 2009-14: 11.2%; just 3.5% in 2019 at end of NDA-01
4) FDI inflows (gross): 2014: $189.5 billion; in 2019: $283.9 billion
5) Foreign Exchange Reserves: 2014: $ 304.2 billion; $412.9 billion in 2019
2/5
Some #EconomyNumbers facts in to put debate in context:
6) Services sector real GVA growth: 7.4% at end of 2009-14; 8.4% at end of 2014-19
7) Manufacturing real GVA growth: 5.3% at end of UPA 2; 8.4% at end of NDA 1
8) Core inflation: In 2014: 9.4%; in 2019: just 5.11%
3/5
6) Services sector real GVA growth: 7.4% at end of 2009-14; 8.4% at end of 2014-19
7) Manufacturing real GVA growth: 5.3% at end of UPA 2; 8.4% at end of NDA 1
8) Core inflation: In 2014: 9.4%; in 2019: just 5.11%
3/5
Some #EconomyNumbers facts in to put debate in context:
Steps since May 2019:
1) Corporate taxes slashed to among the lowest in the world
2) Privatization now in full steam
3) Banks recapitalized
4) Bank mergers
5) IBC strengthened
6) Income Tax assessment faceless
4/5
Steps since May 2019:
1) Corporate taxes slashed to among the lowest in the world
2) Privatization now in full steam
3) Banks recapitalized
4) Bank mergers
5) IBC strengthened
6) Income Tax assessment faceless
4/5
On #EconomyNumbers debate, following things emerge:
1) NDA handles economy DEFINITELY BETTER than UPA
2) Latest GDP growth numbers are obviously low
3) This is a cyclical
4) Reform measures being taken every day
5) GDP numbers are lagging indicators
6) Upwards from here
5/5
1) NDA handles economy DEFINITELY BETTER than UPA
2) Latest GDP growth numbers are obviously low
3) This is a cyclical
4) Reform measures being taken every day
5) GDP numbers are lagging indicators
6) Upwards from here
5/5
