As BJP hopes for bright future of Indian economy, Cong pokes fun at Panagariya

| Updated: Jun 03, 2017 11:59 IST

New Delhi [India], June 3 (ANI): With India losing the fastest growing major economy tag to China, the Congress on Saturday poked fun at NITI Aayog vice-chairman Arvind Panagariya's comment that India is poised for a 7.5 percent sustained growth rate within a few years and averred that the latter seems to belong to the school of astrology to forecast nation's progress, while adding that the Centre must paint a clear picture of nation's economy in front of its people. Congress leader Tom Vadakkan urged the BJP ruled government to give a figure which cannot be questioned. "These men belong to the school of astrology. Figures have come out in public domain, Niti Ayog official comes out with another figure. I ask them to be consistent and say what is the country ready to believe. These are figures that need to be fudged, the country wants to know the actual figures. Give a figure that is never questioned," said Vadakkan. However, the BJP welcomed Panagariya's forecast and hoped for a bright future for nation's economy. "That's a very happy news. Let's keep our fingers crossed and keep praying that country does well and the benefits accrues to every citizen," said BJP leader Meenakshi Lekhi. Panagariya yesterday said that India's economic growth is expected to pick up to 7.5 percent by March 2018, as the government has sustained eight per cent growth rate over the next two years. "Lot of good things have happened in the presence of the current Government. Inflation has come down nearly three percent, Current Account Deficit ( CAD) lowered around one percent and the growth has restored," Arvind Panagariya told reporters here while sharing the future projections for the Indian Economy. "In terms of reforms, the Goods and Services Tax (GST) has been the biggest tax reform after the Insolvency and Bankruptcy Act, which is very important for the growth of the country," added Panagariya. Adding to this he said the address of the Non-performing assets ( NPA's) by the govt. will see substantial growth in the next few months. Further to this, he announced the launch programmes, which take place for the next few months. He announced execution of two documents that will include the action agenda for next three years, apart from the other documents that will include the strategy and vision of the next 15 years of the Government. "Under the objective of Prime Minister Narendra Modi, we are making an effort to bring about an agricultural marketing reform to double the farmers income," he announced. However, his comments come days after the data that showed India's annual economic growth slipping unexpectedly to 6.1 percent in the January-March quarter, its lowest in more than two years. (ANI)