BJP claims the Indian economy is on a recovery path

New Delhi, September 23 (IANS): The BJP said Thursday that the Indian economy is on a recovery path and the government has taken several new initiatives that will further boost the economy.

At a press conference at party headquarters here, BJP national spokesman Gopal Krishna Agarwal said: “Our economy has gotten out of hand and is on the way to double-digit growth. The economy after Covid shows a strong recovery and all indicators show this. “The economy will not only grow in double digits this year, but also sustainably, over a longer period of time it will show a strong growth rate or a higher single digit growth.

Referring to the agricultural sector, he said that farmers’ total debt has decreased and income has increased. “An NSSO agricultural assessment survey found that income from the previous survey increased 59 percent from Rs 6,426 in 2012 to Rs 10,289 per month in 2019,” he said.

He pointed out that farmers’ debt has fallen from 52 percent to 50 percent. “Household farmers’ debt has also decreased. The indebtedness of farmers with small land holdings less than 2.5 acres also fell after adjusting inflation by 50 percent. The government’s budget allocation for the agricultural sector has also increased 5.5 times. Agricultural exports rose 22 percent cents, ”he said.

Citing reports, he mentioned that the labor force participation rate rose to 40.1 percent in 2019-20. “The collection of direct taxes has also increased by 28 percent compared to the period before COVID. The collection of indirect taxes has also increased along with exports. For the past nine months, the GST survey has exceeded one lakh crore per month, ”Agarwal said.

He stressed that the country’s ranking in the Global Innovation Index has improved to 46, compared to 81 in 2015, while India was 48th last year. He also pointed out that the export of goods had also grown by over 45 percent. “All of these reports taken together show that the economy is on the recovery path and the government has taken several initiatives that will further boost the economy and lead us to sustainable double-digit growth at a higher single-digit rate,” said the national spokesman for the BJP .