Speaking to reporters, senior BJP leader and MP Ravi Shankar Prasad said that the growth rate of 7.8 per cent is significant in itself, but its importance increases in the context of the global circumstances in which this achievement was achieved.
He said that during the quarter in question, there were many challenges like crisis in the Gulf region, oil related problems, supply chain disruptions and uncertainty in the global economy. Despite this, the Indian economy performed strongly.
Comparing India's growth rate with some other major economies, the BJP leader said Canada's growth during the same period was around 1.5 per cent, Germany's 1 per cent and Britain's 2.1 per cent. Stating that the growth rate of America is about 2.1 percent, Malaysia's is about 6 percent and South Korea's is about 3.7 percent, he said that India's position has been relatively strong amid the global crisis.
Ravi Shankar Prasad said that the Gulf crisis, wars, problems related to the Strait of Hormuz and possible obstacles in the movement of oil have had an impact on the economies of the entire world. At such a time, India's growth at the rate of 7.8 percent shows the country's economic potential and policy strength.
He said that India's economic management should be congratulated for this. Ravi Shankar Prasad also praised the foresight, wisdom and leadership of Prime Minister Narendra Modi. He also praised the economic management of the Finance Ministry and the Finance Minister, calling it important in India's strong economic condition.
In his statement, Ravi Shankar Prasad compared the economic situation of India in 2013 and present India. He said that in 2013, India's economy was included among the five major emerging economies considered internationally as 'Fragile Five'. He also mentioned 'policy paralysis' i.e. policy stagnation at that time.
While sharing his personal experience of 2013, the BJP MP said that at that time he was the Deputy Leader of Opposition in the Rajya Sabha and had gone to New York to participate in an international seminar. According to him, some American and Indian-American investors met him there and expressed concerns about their investments in India.
He said that investors had asked him whether they should withdraw their money from India and whether their money could be lost in India. Ravi Shankar Prasad told that he had assured the investors at that time that there was no need to worry and his party would correct the situation after coming to power.
Linking this incident to the current economic situation, he said that India's transition from 'Fragile Five' to a growth rate of 7.8 percent shows a big change.
Ravi Shankar Prasad said that stable leadership is necessary for rapid economic development. According to him, there should be such leadership which has the ability to convert even crisis into opportunity. He said that the contribution of various sectors of the economy including manufacturing, trade, construction and service sectors and the policies of the Modi government have played an important role in achieving this growth rate.
He said that despite many challenges present at the global level, India has maintained its development pace. The BJP leader presented this as a success of the government's economic policies and economic management.
During the press conference, Ravi Shankar Prasad also made a scathing attack on Congress leader Rahul Gandhi. He asked whether Rahul Gandhi has taken the contract to demoralize India and make the country look weak? He alleged that Rahul Gandhi says wrong things with full confidence on many issues.
The BJP MP also referred to Rahul Gandhi's alleged statement in which he had described the Indian economy as a 'dead economy'. Ravi Shankar Prasad said that 7.8 percent GDP growth is the answer to Rahul Gandhi's claim.
He alleged that Rahul Gandhi does not have adequate understanding of economic management and economic development. The BJP leader said that on one hand the opposition tries to portray India's economy as weak, while on the other hand the latest GDP figures are showing the country's fast growth rate.
Ravi Shankar Prasad said that India's current economic situation should not be seen in terms of just one quarter's figures, but should be understood in the context of the broader economic changes that have taken place over the years. According to him, the journey from the 'Fragile Five' era of 2013 to 7.8 percent growth shows the change in India's economic condition.
He said India's strong performance amid global crises is the result of the country's economic management, stable leadership and government policies in various sectors. Describing the leadership of Prime Minister Narendra Modi as the main basis of this change, he said that India stands strong today amidst global economic challenges.