Economy

Indian economy remained on track to post the fastest growth among major economies this year as its GDP expanded by a better-than-expected 8.4 per cent in the July-September quarter to cross pre-pandemic levels.Citing GDP growth figures and other economic indicators, the BJP asserted on Wednesday that the decisions taken by Narendra Modi-led government following the Covid-19 pandemic have been paying off, and India is emerging as a bright spot in the global economy.Prime Minister Modi has shown “extraordinary” leadership in extraordinary times, BJP spokesperson Syed Zafar Islam said in reference to the pandemic.COVID-19 adversely affected economies around the world, including India, he said, praising the way Modi handled the crisis and initiated policy measures to “convert the adversity into an opportunity”.“We are now in a very strong position,” he told reporters.Indian economy remained on track to post the fastest growth among major economies this year as its GDP expanded by a better-than-expected 8.4 per cent in the July-September quarter to cross pre-pandemic levels.The GDP growth in the second quarter of the current fiscal (2021-22) was lower than the 20.1 per cent expansion in the previous quarter — which largely reflected a bounce back from last year’s crash — but was better than the contraction of 7.4 per cent in July-September 2020, official data released on Tuesday showed.Islam said, “The economic activities, FDI numbers and several other indicators are at all-time highs. These are very positive signs, and show that the Aatmanirbhar Bharat package has helped the nation. This will create a lot of jobs in the future, helping the next generation.” He also rejected criticism about price rise, saying consumer price index has been on average less than 4 per cent during the BJP’s rule for the last seven years but the figure was in double digit for many years during the UPA rule.Prices of some vegetables and items might have gone up due to seasonal reasons but they are now coming down, he said.

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