Cong claims credit for projected economy growth

A day after the ADB forecast India to register a growth of 7.3 per cent this fiscal and 7.6 per cent in the next, the Congress today attributed it to inherent strength of the country's economy built on the foundations of the party and UPA governments' rule for decades.

It also said but for the demonetisation of high value currencies by the Narendra Modi government, India would have been much more prosperous.

The Asian Development Bank (ADB) yesterday had said Indias two-year trend of declining growth will reverse in theFinancial Year 2018.

The Asian Development Outlook (ADO) 2018 report said Indian economy will expand by 7.3 per cent in FY 2018 and followed by a 7.6 per cent growth in FY 2019.

"We are still stuck at a slightly higher growth rate. What we see now is the inherent strength of Indian economy, which was built on the foundations of Congress and UPA governments rule for decades," Congress leader Rajiv Gowda said here.

He said demonetisation slowed down the economy by two per cent, which amounted to Rs 3 lakh crore loss.

"If there was no demonetisation, there would have been steady growth rate, and created at least 2 crore jobs as promised by Modi. We could have been much more prosperous," he said addressing reporters along with Congress Communications in-charge Randeep Surjewala.

On the fast by BJP lawmakers against non-functioning of Parliament, Surjewala said it was a farcical protest.

"The truth is, Prime Minister has lost credibility and his word carries no value," he said.

Also, Modi's government had no sense of accountability and lost direction and purpose, he charged.

Modi and BJP national President Amit Shah came to power riding a "jumla boat of fake promises" and they stand exposed as the boat has its "underbelly and the rats are jumping ship", he said.

"Therefore, the BJP is back to its policy of divide and rule in the name of religion, region, caste colour and skin," Surjewala alleged.

He also said with unprecedented public ire against it and imminent defeat in Karnataka assembly and Lok Sabha elections, the BJP leadership was enacting an "absurd drama of photo-ops" and headline management.

"Stark reality is that, Modi government has denigrated the highest temple of democracy by obstructing its functioning, first in opposition and more preposterously, when in power," he alleged.

For a party which disrupted 66.88 per cent of the total functioning time of the previous Lok Sabha from 2009 to 2014, Modi government should tender an unconditional apology for dishonouring democracy, Surjewala said.