"PM Inherited Fragile Economy From UPA": Arvind Panagariya To NDTV

Prime Minister Narendra Modi "inherited a very fragile economy" - from the preceding Congress-led United Progressive Alliance government - and, while progress has been made to a 'viksit (developed) Bharat', more must be done, Dr Arvind Panagariya, 16th Finance Commission Chairperson, told NDTV. But assuming these challenges are overcome, that goal - a 'developed' nation, one for which a sustained growth of around 7.6 per cent, till 2047, is seen as a minimum - is "very much doable", he said, pointing to reports that India's GDP is likely to grow at nearly eight per cent for 2024/25. "We forget, actually, the PM inherited a very fragile economy. In the last two or three years of UPA rule, things had really gone south. This was when some of the worst laws were enacted..." he said, highlighting legislation dealing with the right to education and acquisition of land.