No Post Found
Union Finance Minister Arun Jaitley said on Tuesday while taking a dig at the alliances being forged ahead of the 2019 Lok Sabha elections that India needs a decisive Prime Minister with a clear mandate to deliver economic growth and fulfill the aspirations of people, not an “unworkable” alliance of "maverick" leadership.
In a blog titled ‘Political stability, decisive leadership and a clear mandate – their relationship with growth’ Jaitley wrote, “India today is the fastest-growing major economy in the world. Still, we are not satisfied with a 7 to 7.5 per cent growth rate. We are increasingly becoming impatient and want to break the 8 per cent barrier.”
"Who should be India's Prime Minister, if India were to achieve this? Should he/she be constrained by his/her rival aspirants who have reluctantly supported him/her out of mere dislike for a common opponent or does India need a Prime Minister with a clear mandate as in 2014. Only such a Prime Minister can deliver growth and satisfy the Nation's aspirations"
Under Modi, Jaitley said India recorded a growth rate of 7.3 per cent during 2014-15 to 2018-19 as against 6.9 per cent in UPA 1 and 6.7 per cent in UPA 2. Also, the inflation too during the five-year period remained at a low of 4.6 per cent as against 5.7 per cent in UPA 1 and 10.1 per cent in UPA 2.
"The average GDP growth of 7.3 per cent during the five years of Prime Minister Narendra Modi is on a much larger base than that of his predecessors," he said.
“When Prime Minister Modi came to power, India was the tenth largest economy in GDP terms in the world. Presently, the fifth, sixth and seventh economies namely the United Kingdom, France, and India are within a very narrow range. A marginal fluctuation of currency values alters the size of the economies. India, of course, is projected to grow next year at 7.5%. This will conclusively ensure that India, at the end of the next Financial Year, could possibly be the fifth largest economy in the world,” Jaitley added.
According to sources, Jaitley is in the US for a medical check-up. He had a kidney transplant last year.