And he did.
The growth rate in india was 5 % in vajpayee's govn and only year they crossed 8%mark was due to the perfect monsoon that year which resulted in 10% growth in agriculture sector.
During the manmohan singh's govn india's avg growth rate is 9 % (second highest for a major economy in the world) even when world is facing worst economic situation of 80 years ,even when india faced the worst drought of 40 years.This year India have added 20000MW electricity to the grid which is more that the entire electricity addition in NDA's time.
Hmmm...shall we look at the avergae inflation and economic growth rates during the NDA and UPA ?
NDA ------Inflation ------ Growth
1998 ------ 13.2 % ------ 4.1%
1999 ------ 4.70 % ------ 6.2%
2000 ------ 4.02 % ------ 4.0%
2001 ------ 3.77 % ------ 5.2%
2002 ------ 4.31 % ------ 3.8%
2003 ------ 3.81 % ------ 8.4% (best mansoon of last 30 years so Agriculture growth was more than 10% "India Shining")
UPA
2004 ------ 3.77 % ------ 8.3%
2005 ------ 4.25 % ------ 9.3%
2006 ------ 5.79 % ------ 9.3%
2007 ------ 6.39 % ------ 9.8%
2008 ------ 8.32 % ------ 4.9%(worst rescession after 1930s ,most of the countries observed -ve growth)
2009 ------ 10.83 % ------ 9.1%( India faced worst drought since 1972)
2010 ------ 12.11 % ------ 9.7%
2011 ------ 9.00 % ------ 8.0%
Inflation in 2008-2012 because of what is called liquidity overhang in the economy.the government of India due to the global economic meltdown which began September 2008, infused huge money in the system purportedly to stimulate economy. most of the money was spent for consumer expenditure rather than investment expenditure so it was obvious that it will result in Inflation but without theses action Indian economy would have collapsed like greece , Portugal.
Ok my CONgressi friend falsely using a pic of Bhaghat Singh(a great paradox here!!) who was dead against congress policy & congress tactics, you have given a great argument, i appreciate that, but half truth said is worst then an outright lie.
In the 65 years of independence, we had 55 years of congress/coalition of congress govt. (only congress govt. for nearly 40 years between 1947-1990 & what growth rate we achieved then? our growth rate was derogatorily called "THE HINDU RATE OF GROWTH", which was averaged around 3.5% & per capita growth rate of just 1.3%, we were higher in per capita income of Chinese till the Chinese liberalized there economy around 1978.
& when we liberalized our economy??? When there was a global crisis, Soviet Union (our savior) broke up, Gulf War, oil crisis, no foreign exchange to support import for more than 3 weeks. Than when we lost all self respect & had to literally beg (such a sad situation for a great country like India) in front of IMF to save us, IMF used a stick & carrot policy here:
Stick - liberalize your economy (it was forced liberalization not a govt. policy initiative which congress always claims)
carrot - face savior from balance of payment crisis
you have again played safely in terms of your growth rate chart, you can see the inflation rate in the NDA regime which avg. around 5% & during UPA regime which averages around 8%, as far as impressive growth rate is concerned, just think can a country get to higher growth path just because there has been a govt. change (from NDA to UPA), no way, in fact if you listen to many corporate leaders, they agree that the growth targets which UPA is able to achieve is because of some of the policies of NDA. Yes, economics is not a game of one day or the other, but an economy is made over a time of good policies.
Apart from this what answers you would give to people who are now asking real questions about UPA govt., not just from NDA or other parties but intellectuals. Some of the case in point are:
1. Chief economic advisor says there will be no great reform initiative before 2014 (maybe he is waiting for NDA to come back to power.....
).
2. Army chief says there is rampant corruption in arms deals, & what our Raksha Mantri is doing for that??
3. In a recent survey conducted by IBN 7, 66% people said that this is the most corrupt govt. in the history of independent India.
4. Rupee has slides to the lowest level of Rs. 56 is it really because of EU crisis?? or steepest rise in the price of petrol?? (i laughed when one of the leader from congress said that states should follow the Goa model!! of lessening the VAT on petrol)
5. International credit agencies have downgraded the rating of India. Investors don't want to invest because of new tax laws (retrospective tax).
6. our PM in fact once defended A raja in a press conference saying there are some restrictions in coalition govt., does this mean a person can have a scam of 1.76 lakh crore & he will be not charged guilty for that because of coalition "dharma" ( he & all other 2G accused are released on bail).
Are they people from the opposition???
I have lot of points to make but it will require another thread, i think they are enough for you to think now.
(i am not a BJP/NDA person but is really upset with the present govt. & it's policies)