India Went From 'Fragile Five' Under UPA To 'Top Five' Under NDA: Piyush Goyal

Slamming Leader of Opposition Rahul Gandhi's reaction to the Union Budget, Union Commerce and Industry Minsiter Piyush Goyal today said the country has moved from "Fragile Five" under the UPA government to "Top Five" in the BJP-led NDA government.

Stressing that the UPA government never talked about uplifting the poor, the Union Minister said in the Parliament that the BJP-led NDA government "inherited one of the most fragile economies".

Attacking Congress leader P Chidambaram, Mr Goyal said that in 2004, the former Finance Minister had said he "inherited a strong economy".

"At that time, the growth rate was over eight per cent, inflation was around four per cent, and foreign exchange reserves were robust, compared to the size of the economy at that point of time. What did the UPA do in the 10 years when they were in government?" asked the Commerce Minister.

Mr Goyal said he read 10 speeches of the UPA government and never "once has there been a mention of bringing in a legal guarantee for minimum support price (MSP)" for crops.

"Never once did they speak about trying to uplift the poor by giving them free homes," the minister added.

India's ascent from the 'Fragile Five' to the fastest-growing major economy has lessons for other developing countries.

The country is now being hailed as the emerging superpower of the 21st century.

India is on track to become the world's third-largest economy with GDP crossing $5 trillion, and the goal is now to reach a $30 trillion economy by 2047 with a per capita income of $18,000 per annum, according to a key NITI Aayog document.
 

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