You are here: Home » News-IANS » Business-Economy
Business Standard

Modi government dismantled India's economy: Congress

IANS  |  New Delhi 

The on Friday said that the will be shown the "exit door" by the people of on account of an atmosphere of "fear, despair, division and economic devastation" and alleged that it had "dismantled" India's economy in five years.

said that the year-on-year growth of national income has plunged from 14 per cent in 2005-06 to 11.6 per cent in 2018-19.

He said that the per capita income increased during the by a whopping 233 per cent (2004-14) and it has slowed down to 40.5 per cent during the

"The average GDP growth during UPA years was 8.1 per cent and has fallen to 7 per cent in last five years. The average agriculture growth rate during UPA was 4.2 per cent and has fallen to just 2.9 per cent. The average industrial growth rate during UPA was 8.55 per cent during and has fallen to just 4.45 per cent now," he said.

Surjewala said that the average growth rate during Congress-led UPA was 3.5 per cent and it has now fallen to 1.8 per cent.

The unemployment rate, he said, has climbed to an unprecedented 45-year high from 2.2 per cent (2011-12 as per NSSO) to 6.1 per cent.

He said the percentage increase in exports has come down, year-on-year average wage rate growth has fallen and has dropped.

The said there has been a fall in and production growth besides growth in activity and tourism.

Surjewala said growth in bank credit, FDI, rail and road freight movement, production of motor vehicles, sales growth of textiles, gems and jewellery, leather, and had fallen.

"The average growth of stock market during UPA was 15.5 per cent and has now fallen

to just 7.7 per cent," he said.

Surjewala said that the task before the next government is to reinvent "the wheel of India's prosperity and social cohesion,"

--IANS

ps/kr

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 18 2019. 00:42 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU