• UGI USER
  • Feb 14, 2024
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DECODING INDIA’S ECONOMIC REALITIES-II

Why in the news?

Official data on the economy under the NDA government criticized for overestimating its performance and undervaluing UPA’s.

Source:successcds

About Critics’ challenge to NDA government’s official economic data:

  • Interim Budget emphasizes fiscal consolidation.
  • Public expenditure cuts include ₹1 lakh crore reduction in capital expenditure.
  • Despite 9% nominal GDP growth, slowdowns persist.
  • NDA’s “White Paper” shifts focus to UPA’s alleged economic crises.
  • Fiscal trends over 20 years show mixed patterns.
  • NDA’s revenue strategy focuses on indirect tax increases.
  • Corporate tax collections decline under NDA.
  • Real GDP growth averaged higher during UPA.
  • NDA faces criticism over food inflation, trade balances, and NPAs.
  • Labour force shows growing informalization despite claims of improved income and employment.
About NDA Government

●   Name: National Democratic Alliance (NDA)

●   Composition: Centre-right parties, led by the Bharatiya Janata Party (BJP)

●   Formation: Established in 1998

●   Government Control: Currently holds power in the Indian union government and 18 Indian states

●   First Chairman: Prime Minister Atal Bihari Vajpayee

●   Chairperson: Amit Shah (Union Cabinet Minister)

●   Lok Sabha Leader: Narendra Modi (Prime Minister)

●   Rajya Sabha Leader: PiyushGoyal (Union Cabinet Minister)

●   Founder: Atal Bihari Vajpayee, Lal Krishna Advani, Pramod Mahajan (Bharatiya Janata Party)