Union Home Minister Amit Shah asserted on Wednesday that their government successfully kept inflation below 5%, contrasting it with the double-digit inflation experienced during the Congress-led UPA regime.
Speaking at the India Global Forum’s annual investment summit NXT10 in Mumbai, Shah highlighted the economic transformation under the BJP government. He remarked on the challenges faced before 2014, including high inflation and an uncontrollable fiscal deficit.
Shah emphasized India’s emergence as a policy-driven state, attributing the shift to the government’s performance over the past decade. With the Lok Sabha elections on the horizon, Shah outlined their government’s accomplishments and future plans.
Praising Prime Minister Narendra Modi as a visionary leader, Shah envisioned India as a fully developed, self-reliant nation among the top three economies globally by 2047, the centenary of independence.
Describing India’s journey from fragility to dynamism, Shah urged a comparison between the progress of the last decade and the previous UPA government’s tenure. He emphasized the significance of understanding the depth of challenges faced to appreciate the achieved progress.
“Inflation reached double-digit growth during the Congress-led UPA regime; our government has contained it below 5 per cent. The country’s confidence was shaken due to various scams of Rs 12 lakh crore during the UPA’s tenure, crony capitalism was at its peak,” Shah stated, underscoring the government’s efforts to instill confidence and promote inclusive growth.
As the nation gears up for the upcoming elections, Shah’s remarks shed light on the BJP’s economic achievements and aspirations for the future, setting the stage for a crucial electoral battle.