Bharatiya Janata Party (BJP) national executive has lauded the economic policy of the Narendra Modi government and termed it an appropriate blend of welfare and growth measures.
Hailing the policy, the national executive dubbed it the hallmark of the NDA government’s governance model “drawing inspiration from Pandit Deendayal Upadhyay’s concept of Antyodaya —“upliftment and service of the poor, downtrodden and marginalised”.
The national executive expressed confidence that the efforts of central government under the leadership of the Narendra Modi, the economy will continue to grow and with the social equality and economic empowerment there will be a transformation in the lives of the poor.
“The first two years of the Narendra Modi government have been marked by significant measures to alleviate poverty and deprivation, enable socio-economic empowerment of the marginalised sections and lay a robust foundation for economic progress. ‘Sabka Sath Sabka Vikas’ is the underlying philosophy of the government,” read the first resolution passed on Sunday by the national executive on day one of its two-day meet in Allahabad.
The resolution was introduced by national general secretary of BJP P Muralidhar Rao in the second session of the meet in presence of party president Amit Shah, Prime Minister Narendra Modi and other senior leaders of the party. The resolution was supported by finance minister Arun Jaitley, minister of state for commerce and industry Nirmala Sitharaman and home minister Rajnath Singh.
“As a result of all these efforts by Narendra Modi led NDA government, different sectors are doing well in spite of enormous problems surrounding the economy. There is increased economic activity at different levels resulting in improved confidence of not only investors but also the common man. Besides, India is making a powerful impression at the international level,” read the resolution.
The national executive resolution noted that at a time when world economy was expected to grow less than 3% this year, the same as in 2015 and almost all countries including China, Brazil, are in the grip of recession, India was a bright spot in the world of recession.
“Increased capital spending in infrastructure development, increased credit for agriculture and small industries has facilitated India’s fast growth. This has increased domestic growth and domestic consumption. Indian consumer spending increased from 6.2% in 2014-15 to 7.2% in 2015-16. Agricultural sector posted a robust growth of 2.3% in the last quarter of 2015-16 and 1.2% for the whole of 2015-16 against a negative growth of 0.2% in the earlier year. Industry has posted a growth of 7.4% in 2015-16 as against 5.9% in the earlier year. The core sector growth during April 2016 is a robust 8.5% against (-0.2)% in April 2015,” the resolution points out.
The national executive praised that government for taking the lead to “clear 42 stalled projects worth Rs 1.15 lakh crore since February 2015, which activated the idle investments locked in the projects.”
It noted that this had also begun yielding results in 2015-16. “That is why despite slower growth in investments GDP has grown. Further unlocking of stalled projects will accentuate the GDP growth in future,” the resolution noted.