Era of High Growth and Low Inflation Under Modi Government

The Modi-led government is marked by high growth and low inflation, as highlighted by a decline to a one-year low of 4.75% in May. Party leaders emphasize the improved economic indicators compared to the Congress-led UPA rule, attributing better inflation rates and robust GDP growth to the current administration.

In a recent statement, the BJP highlighted the 'high growth and low inflation' attributes of the Modi-led government. Official data revealed retail inflation has decreased to a one-year low of 4.75% in May.

BJP leader Gourav Vallabh pointed out the downward trend in inflation across various sectors including clothing, food, spices, and oil, maintaining an average rate of 4.64% compared to 9.25% during the UPA rule. 'It was almost double,' said Vallabh.

In a critique of Congress leaders Rahul Gandhi and Jairam Ramesh, BJP spokesperson Syed Zafar Islam noted that inflation was substantially higher during the UPA's 10-year tenure. Vallabh further noted that food inflation under UPA was 12.1%, versus 3.93% under Modi's administration.

On another positive note, various global agencies have upgraded their forecasts for India's GDP growth, which recorded an impressive 8.2% in the last fiscal. The term of Modi's government can be summarized as an era of high growth and low inflation, Vallabh stated. With predictions of a good monsoon, retail inflation is expected to further decline.