Claim Check: Narendra Modi on GDP and inflation under the NDA regime
1 min read . Updated: 23 Sep 2013, 04:43 PM ISTModi says under the NDA, India’s economic growth was higher and inflation lower than under the UPA. True or false?
Claim: India’s gross domestic product (GDP) growth rate has come down from 8.4% during the term of the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) to 4.8% in the Congress-led United Progressive Alliance’s (UPA) regime. The Inflation rate during NDA regime was much lower than that during UPA’s rule.
Who: BJP’s prime ministerial candidate and Gujarat chief minister Narendra Modi
When: On 22 September at the annual national convention of Overseas Friends of BJP in Florida via video conferencing.
Check: He is wrong on growth but right on inflation.
During the six years the NDA was in power, from 1998-99 to 2003-04, the average GDP growth rate was 6% while during the last nine years of UPA regime, from 2004-05 to 2012-13, GDP grew by 7.9%.
Wholesale price index based inflation during the NDA term averaged 4.8% while during the UPA regime till 2012-13, it averaged 6.7%.
Source: CSO, RBI Handbook of Statistics