Thread by @Randeep_Sisodia

This thread is in response to an ex economic advisor who gets all his data from taxi drivers, ex RBI gov who failed miserably & ex FM who successfully did farming worth crores in his kitchen garden, all claiming India is going Sri Lanka way.

Let us review key parameters…1/12

of Bharat’s economic health during times of double global crisis of Pandemic & War!

Inflation: At 7%, Bharat is much better than the west. US at 9.1% and UK at 8.6% have their highest inflation in last 4 decades while India is much lower than the double digit inflation…2/12

during UPA regime. Global factors like rise in global commodity prices, oil price & supply chain issues r main reasons for rise in inflation globally. Another key reason was most nations, especially west, splurged in the name of stimulus packages during pandemic leading to…3/12

more supply of money in market than demand resulting in higher inflation while India spent responsibly, focusing on spending on productive assets building rather than putting ‘money in the pockets’ as demanded by ‘taxi riding’ & ‘kitchen garden’ farmer ‘economists’…4/12

This was Bharat’s key differentiator which is keeping our inflation much lower the west, which ,historically, is far lower than ours.

National debt:

Bharat’s external debt to GDP ratio is 21.1%. In comparison, developed nation like US is at 101%, France at 256% and UK…5/12

at a whopping 317%.

Thanks to #chidambaram & #RaghuramRajan NPAs went out of control in double digits during last few years of UPA and had become a major threat to our economic health. Today it has come down to 5.9% and expected to go down further to 5.3% next year…6/12

GDPs for 2022:

Bharat - 8.7%
China - 4.3%
US - 2.6%

India has the highest growth rate amongst all major economies and is expected to remain at top in future too.

Jobs:

Most authentic employment indicator is EPFO (provident fund). 9.3 lakh new members (employees) joined…7/12

in April 2022. And this is just the organized sector which is only around 15-20% of overall job market. Assuming a very conservative estimate for unorganized market, we are still looking at well over a crore new jobs this year. Not included in this are the small…8/12

entrepreneurs that we are creating through MUDRA scheme.

Future trends:

Innovation is going to be the key for growth for any economy in future. Hence start up will be key. Bharat, after US & China has d best start up eco system in the globe. In fact in terms of unicorns…9/12

(Start ups with over 1 Billion USD valuations) India is already doing better than China! Bharat has 17 new unicorns in the first six months of 2022!

Unrests & strifes:

Twitter economists argue that govt divisive policy will derail economy. 1) above data proves otherwise…10/12

2) protests that were clearly orchestrated by opposition like CAA, farmers, Hijab & the latest Agnipath could not even momentarily shake the stability of the govt. infact it is only going from strength to strength as proved by recent election results and events unfolding…11/12

in Maha 😊

Another key indicator for Bharat’s stability is the economic growth itself. The fact that we r the fastest growing economy means that global businesses/investors view Bharat as extremely steady & stable…
…and none of taxi drivers told me so, data proves it!…12/12