To analyse the economic growth of a country, the most commonly used marker by majority of economists is Gross Domestic Product (GDP). GDP is calculated as the final monetary measure of all the goods and services produced in the nation over a defined period of time which may be quarterly, half yearly or annual.
However, since our current Prime Minister Narendra Modi took charge of the country in 2014, India’s GDP have seen a significant declines and it become a topic of controversial discussions throughout the world especially when the BJP claimed several achievements of their part in these four years which now appear questionable (100 % rural electrification is the latest example of fake achievements by BJP).
Let us begin our descent in four years of Modi’s rule with economy – one of the biggest casualties nation has faced under last four years of BJP tenure. It has been a pattern for Narendra Modi to jump from one poorly planned policy to another repeatedly without considering its ill effects in the citizens of nation. The poorly planned and meaningless execution of demonetisation had resulted in loss of Rs 3 lakh crore in GDP growth and left more than 25 lakh people jobless within a week of its execution. Another ill step taken by BJP government is senseless implementation of GST which resulted in great loss for entrepreneurs of the nation.
While a lot of people are debating about Rahul Gandhi achievements in last 14 years of his political cares, the Indian banking system which stands strong during the 2008 global financial crisis has become a victim of poor policy planning and feeble oversight of BJP Government in last four years. The last financial quarter indicates a loss of over Rs 44,000 crore which is one of the highest loss recorded in history of Indian Banking system. This loss has been the result of fraud committed by numerous economic offenders like Vijay Malya and Nirav Modi who have fled with impunity from BJP government. It is estimated that these offenders flew away with over one lakh crore of public money leaving the nation in great financial crisis.
If we look at Rahul Gandhi achievements in last four years, we can see him working along with the farmers to fight against the injustice happening with them. Although it gave birth to lot of controversies against Rahul Gandhi, the nation failed to address that the ruling government has been more desperate for revenues. The international prices for crude oil have seen historic low in year 2014 when BJP was elected as the ruling party of the nation. Instead of passing on the benefits of these reduces prices to the people or nation by reducing the prices of petrol and diesel, BJP government increased the central excise duty on petrol by over 200% and on diesel by over 400% which in turn makes the oil costlier than it was ever before. This cruel exercise has made a collection of over Rs 10 lakh crore in state and central revenues. For those who challenge Rahul Gandhi achievements and support Narendra Modi blindly will be shocked to know this bankruptcy of ideas by BJP government and lack of concern for the citizens of nation which this government is meant to serve.
While assessing Rahul Gandhi achievements, people need to make themself aware of reintroduced the long terms capital gains tax by BJP; the same tax which was abolished by UPA. The government has eroded every source of saving for the middle class by levying Swachh Bharat, education and Krishi Kalyan cess on one hand and reducing the rate of interest on saving to 3.5% on the other hand.
Another major failure of BJP government is the failure to create new job opportunities in the nation. The Mudra Loan scheme started by Modi has resulted in another failure of this incompetent government.
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