Top
undefined
Begin typing your search above and press return to search.

Economic parameters: UPA vs NDA

Economic parameters: UPA vs NDA

By : Kaushik Subramanian

  |  3 Sep 2019 6:15 AM GMT


For the past few weeks, lots of
discussions are being made about the state of nation’s economy. There are many
criticisms on the incumbent Narendra Modi government for not managing the
nation’s economy in an efficient way. Former Prime Minister Manmohan Singh even
posted a video criticizing the current government regarding the state of
economy. Some Congress supporters drawn comparisons of present government with
the previous Congress governments under former Prime Minister Manmohan Singh
and hailed Dr.Singh’s government as better in economic affairs when compared to
Prime Minister Narendra Modi’s government but hard data demolishes this
comparison. Data shows that Narendra Modi government as better when it comes to
nation’s economy.


UPA I:


2008 -
2009: 3.1%


2007 -
2008: 7.6%


2006 -
2007: 8.0%


2005 -
2006: 7.9%


2004 -
2005: 7.5%


Average
- 6.85%


UPA
II:


2013 -
2014: 6.4%


2012 -
2013: 5.4%


2011 -
2012: 5.2%


2010 -
2011: 8.5%


2009 -
2010: 7.8%


Average
-6.69%


Modi Government:


2018-2019:
6.8%


2017-2018:
7.1%


2016-2017:
8.1%


2015-2016:
8.0%


2014-2015:
7.4%


Avg-
7.51%


The data shows that average GDP growth
rate under Former Prime Minister Manmohan Singh’s first tenure is 6.85% and
6.69% during his first and second Prime Minister tenure respectively while during
Prime Minister Narendra Modi’s first tenure as Prime Minister, India grown at
an average rate of 7.51%. This data suggests that Prime Minister Narendra Modi’s
government performed better when it comes to w


GDP Growth rate is not the only
parameter to judge the state of a nation’s economy. Inflation is also another
factor. Let’s see the data for inflation:


Narendra Modi Government (2014-2019):


2018-2019: 4.8%


2017-2018:
2.4%


2016-2017:
4.9%


2015-2016:
5.8%


2014-2015:
6.3%


Average:
4.84%


Manmohan Singh UPA-II (2009-2014):


2013 -
2014: 10.9%


2012 -
2013: 9.3%


2011 -
2012: 8.8%


2010 -
2011: 11.9%


2009 -
2010: 10.8%


Average
- 10.34%


Average inflation during UPA-II was
10.34% while the inflation was reduced to just 4.84% during Narendra Modi’s
first tenure as Prime Minister. Inflation is one of the parameter that truly
affects the common citizen as price rise creates unbearable hardships for common
people. Prime Minister Narendra Modi government controlled the inflation that
skyrocketed under UPA government.


Narendra Modi government has various
issues to sort out regarding the economy but stating that economy is currently
in deep crisis and hailing the previous Congress government for better
management of economy without studying the data leads to problematic
conclusions.


Next Story