Salient points of the press conference of Hon'ble Union Minister Shri Rajeev Chandrasekhar.

 

Salient points of Union State Minister Shri Rajeev Chandrasekhar’s Press Conference

Under the leadership of Hon'ble Prime Minister Shri Narendra Modi, India registered an 8.4% GDP Growth Rate in the third quarter of the Financial Year 2023-24, speaking volumes about the efforts and capabilities of the Modi Government

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Hon’ble Prime Minister Shri Narendra Modi's 'Politics of Performance' has enforced profound structural changes in the country over the last decade, serving as a testament to his leadership

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From 2004 to 2014, the UPA government worked to damage the country, while the efficient policies of the Prime Minister Shri Narendra Modi led NDA government have propelled India among the world's top 5 strongest economies

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During the 'Lost Decade' under UPA rule, India was among the Fragile-Five economies globally, UPA's last quarter's GDP decline of 5.3%, and in contrast NDA government achieved an impressive 8.4% growth

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Hon’ble Prime Minister Shri Narendra Modi’s exceptional ability to implement transformative initiatives on an unprecedented scale, resolve long standing issues, and reshape the global narrative about India is commendable

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The economy stands as a prime example of Prime Minister Shri Narendra Modi's approach, propelling India from the 'fragile five' economies to the world's top 5, with a trajectory poised for the top 3

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During Prime Minister Shri Narendra Modi’s two tenures, first reconstructed the nation's devastated economy and then laid the foundation for the ambitious vision of a 'Viksit Bharat' through the era called 'New India'

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There is a stark contrast between the 'Politics of Performance' under PM Shri Narendra Modi's leadership and the 'Lost Decade' marked by corruption and cronyism during the UPA rule

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Our financial system stands among the world's strongest, with inclusivity and increased credit support for startups. The NPAs are at a decade-low of 3.9%

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American economist Michael Spence, recipient of the Nobel Prize, underscored that India possesses the world's most efficient digital economy

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A press conference was conducted at the Bharatiya Janata Party’s headquarters in New Delhi, by MoS Shri Rajeev Chandrasekhar on Friday. During the press conference, Shri Rajeev Chandrasekhar lauded Prime Minister Shri Narendra Modi's 'Politics of Performance,' noting transformative changes in India's last decade. Shri Chandrasekhar highlighted a significant shift from the 'fragile five' to the 'top five' economies, achieving a record 8.4% GDP growth. Shri Chandrasekhar contrasted the UPA's 'lost decade' with NDA's achievements, emphasizing reduced inflation, strengthened financial systems, and decreased NPAs.

 

Shri Rajeev Chandrasekhar stated that the last ten years have witnessed profound structural changes in the country, attributing it to Hon’ble Prime Minister Shri Narendra Modi's 'Politics of Performance.' Shri Chandrasekhar commended the Prime Minister's ability to execute transformative initiatives at an unprecedented scale, solve long standing issues, and alter the global narrative about India. Shri Chandrasekhar highlighted the economy as a prime example, noting that Prime Minister Shri Narendra Modi's approach has propelled India from the 'fragile five' economies to the world's top 5, and is poised to reach the top 3.

Union MoS Shri Rajeev Chandrasekhar highlighted India's progress in a presentation, delineating it into three phases. The first, from 2004 to 2014, was termed as the "UPA's lost decade." The second phase encompassed the five years of Prime Minister Shri Narendra Modi's tenure, during which he reconstructed the nation's economy. The third phase, from 2019 to 2024, was characterized by the Hon'ble Prime Minister laying the foundation for the ambitious vision of a 'Viksit Bharat' through the era called 'New India.'

 

Union Minister Shri Rajeev Chandrasekhar emphasized that the Modi government, after ten years, has propelled the Indian economy to a record 8.4% growth, the highest among nations worldwide. Shri Chandrasekhar compared the UPA's last quarter's GDP growth rate, which declined by 5.3%, with the NDA government's impressive 8.4% growth. He highlighted this as a stark contrast between the 'politics of performance' and the 'lost decade of corruption and cronyism.'

 

Shri Rajeev Chandrashekhar presented data comparing the inflation rates during the UPA tenure and the last decade of the NDA government. He highlighted that under the UPA, inflation stood at 9.4%, whereas during the latter period, it declined to 5.4%, with an average of 8.1% versus 5.1% respectively. The maximum inflation during the UPA government was recorded at 15.3%, with ten quarters experiencing double-digit inflation, spanning over 2.5 years. Additionally, Shri Chandrashekhar emphasized the significant growth in various economic indicators during the last ten years of the NDA government, including forex reserves, total exports, FDI, GST collection, and capital expenditure, along with a substantial increase in employment generation, up to 12-15 times.

Shri Chandrashekhar attributed the performance data to the principles of good governance, a corruption-free administration, and a robust financial sector, all of which were lacking during the UPA tenure. Shri Chandrashekhar leveled allegations regarding NPAs, crony lending practices, and the concentration of banking system net worth in the hands of a few groups, pointing out that this trend intensified during the UPA government. Contrasting the current scenario, he highlighted the NDA's efforts in boosting credit growth, asserting that Indian banks and financial systems are stronger than those in countries like the USA. He emphasized the inclusivity of the Indian financial system, which extends credit to startups and entrepreneurs, as a result, NPAs have decreased to as low as 3.9% over the past decade.

 

Union MoS Shri Rajeev highlighted a profound transformation in the economy since Prime Minister Shri Narendra Modi assumed office, moving from the 'fragile five' to the 'top five', poised to rank among the top three economies globally. He noted that India is currently the fastest-growing economy worldwide. Citing American economist Michael Spence, a Nobel Prize winner, he emphasized that India boasts the most effective digital economy globally. Under PM Shri Narendra Modi's leadership, a robust financial system has been established. Additionally, he mentioned the emergence of startups and increased foreign direct investment (FDI). He mentioned the government's investment of Rs 11 lakh crore in the economy, lifting 25 crore people out of multidimensional poverty and providing clean water to 11 crore people through the Tap Water Scheme over the last three years. He mentioned numerous statistics that reflect the progress of the growing economy.

 

Union Minister Shri Chandrashekhar emphasized that what the country couldn't achieve in the past 65-75 years in areas like semiconductors and high technology, the government now has the resources available to invest in them. He mentioned that the Cabinet has already approved a significant amount of funds, amounting to 1.5 lakh crores, for this purpose. The total investment proposals received for semiconductors amount to 2.5 lakh crores over the past two years, which is a testament to the growth of the economy and available resources. The political culture, coupled with the 8.4% growth in the Indian economy, is attributed to Prime Minister Shri Narendra Modi, which is recognized on the global platform and appreciated by people.

 

Shri Rajeev Chandrashekhar remarked that if individuals seek to evaluate the political culture over the past decade, the growth of the Indian economy stands as a significant example. Highlighting the economic growth figures, he noted that India's GDP growth rate was merely 5.3% at the onset of the BJP government, but under the leadership of Prime Minister Shri Narendra Modi, it has surged to 8.4%.

 

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