Thread by @MODIfiedVikas

Amid the spread of 'doom and gloom' by usual suspects on the latest #EconomyNumbers, of what is clearly only a cyclical downturn, some facts.

1) Real GDP Growth: 6.4% at the end of 2014, avg. 7.5% between 2014-19

2) Headline inflation: 10.3% in 2013-14; 4.5% in 2018-19 (1/n)

3) Food inflation: 2009-14: 11.2%; just 3.5% in 2019 at end of NDA-01

4) FDI inflows (gross): 2014: $189.5 billion; in 2019: $283.9 billion

5) Foreign Exchange Reserves: 2014: $ 304.2 billion; $412.9 billion in 2019

(2/n)

6) Services sector real GVA growth: 7.4% at end of 2009-14; 8.4% at end of 2014-19

7) Manufacturing real GVA growth: 5.3% at end of UPA 2; 8.4% at end of NDA 1

8) Core inflation: In 2014: 9.4%; in 2019: just 5.11% (3/n)

Some #EconomyNumbers facts in to put debate in context:

Steps since May 2019:
1) Corporate taxes slashed to among the lowest in the world
2) Privatization now in full steam
3) Banks recapitalized
4) Bank mergers
5) IBC strengthened
6) Income Tax assessment faceless
(4/n)

On #EconomyNumbers debate, following things emerge:

1) NDA handles economy DEFINITELY BETTER than UPA
2) Latest GDP growth numbers are obviously low
3) This is a cyclical
4) Reform measures being taken every day
5) GDP numbers are lagging indicators
6) Upwards from here (n/n)