Agra, Aug 7 (ANI): Bharatiya Janata Party (BJP) President Nitin Gadkari has criticized the Congress-led UPA Government at the Centre over poor governance and policy paralysis.
Gadkari, who was commenting on India's dipping economic growth, compared the country with its top Asian giant 'China'."China is changing, it is moving on the path of development and progress. China's GDP (Gross domestic product) is 12 percent, whereas India stands at 5.20 percent," said Gadkari.
"During the governance of Atal Bihari Vajpayee (former Prime Minister), our GDP was between 8.30 -9.00 percent, the world thought the two Asian giants would compete for global leadership. China's economy has become four times as ours and we are caught with our problems," he added.
India's economy grew at 5.3 percent in the March quarter, the slowest in nine years, as companies held back investment, partly on worries over uncertain policymaking, including tax proposals that could be implemented retroactively.India's budget deficit for the fiscal year that ended in March was 5.76 percent of GDP, and many economists say its aim to trim that to 5.1 percent for this fiscal year is optimistic.
For the April-June period, the deficit rose to 1.9 trillion rupees, or 37.1 percent of the full fiscal year 2012/13 target. (ANI)
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