Global recession behind fall in exports, says BJP

The BJP blamed global recession for decline in exports and credited the government for steering the economy to achieve a growth rate of 7.9% in the last quarter of 2015-16.

The Economic Resolution adopted at the ongoing BJP National Executive meeting here also credited the Centre for sending unambiguous message to investors on reforms and assurance on non-engagement in any retrospective taxation.

It pointed out that according to the OECD, all countries including China and Brazil, were at the grip of recession.

“There is a decline in the role played by global trade in pushing economic growth and propelling growth of developing nations,” the resolution said.

“In contrast, the Indian economy has been posting higher growth and emerged as the fastest growing economy of the world,” it added.

The assertions on the economic situation come amid questions raised by the Congress and other opposition parties over the GDP figures put out by the Modi government.

“The trust of investors increased manifold due to increased transparency and accountability in governance, scam-free administration and prudent fiscal management policies,” according to the resolution that was adopted on Saturday night.

“During the UPA regime, international community had started writing off India: terming it as a laggard economy,” the resolution said slamming the Congress-led government for allowing “crony capitalists to influence the decision-making process”.

Party hits out at Cong

The BJP also hit out at the Congress for its “obstructionist politics” which the BJP said was delaying the roll-out of Goods and Services Tax regime.

Crediting Prime Minister Modi for “blending welfare and growth measures”, the resolution said increased economic activity has improved the confidence of not only investors, but also the common man. The government’s handling of the economy has led to an increase in FDI inflow under the NDA. “FDI inflow was over $55 billions in 2015-16 against $41 billions in 2014-15 and $36 billions in 2013-14,” it said.

“This has facilitated in making the objectives of initiatives like Make in India, Start Up India, Stand Up India a reality,” the resolution said.