Chennai: The BJP-led government under Prime Minister Narendra Modi had achieved in just four years what the Congress-led UPA couldn't in ten years of its rule, Union Minister of State for Finance and Shipping Pon Radhakrishnan has said and claimed that India overtook China as the world's fastest growing economy, despite global slowdown.
"In just four years from 2014, the NDA government had fared better under Mr Modi's rule. India's growth during 2014-17 stood at 7.4 per cent whereas China's growth was 6.9 per cent," Mr Radhakrishnan said.
He claimed in a tweet that the GDP during the ten-year rule of the Congress-led UPA from 2004 was 10.3 per cent while China's growth during the corresponding period then stood at 7.7 per cent.
Prime Minister Narendra Modi completed four years in office on May 26. He is credited with giving India its biggest tax reform, besides overhauling a century-old bankruptcy law, revived stalled projects and obtained the World Bank to say Asia's No. 3 economy is a much better place to do business.
Modi's Bharatiya Janata Party, which swept to power in 2014 Lok Sabha polls, assured to tackle price rises, prioritise job creation, eliminate scope for corruption and uplift the poor. The party's term in office comes to an end by May next year.
As Mr Modi stepped into his final year in office, several BJP leaders have been quiet active on the twitter posting charts and images to say India has replaced China as the world's fastest growing economy.
The Minister's assertion comes despite a government-commissioned study which drew up figures for gross domestic product (GDP) growth rates, in line with the new baseline data, indicating that India achieved much higher growth under the leadership of the UPA than previously thought.
