From the time Narendra Modi Government has assumed office, he and his party has dedicately worked for the nation.Always at national as well as international level Modi government has made the nation proud. Never a day has went in which Modi Government have not done anything for the citizens of the nation.
In a boost for Prime Minister Narendra Modi’s 2019 General Elections preparations, the Asian Development Bank (ADB) today said India’s two-year trend of declining growth will reverse in the Financial Year 2018.The Asian Development Outlook (ADO) 2018 report says Indian economy will expand by 7.3% in FY 2018. This will be followed by a 7.6% growth in FY 2019.
Declining growth in the last two years had provided the opposition talking point to take on the Modi government, which came to power in 2014 promising “Achhe din”. As per ADB, the growth rate of India will be higher than China in FY 2018.
Not just this, while India’s growth will go up in the next financial year, China’s growth is predicted to decline.The report says Chinese economy would expand by 6.6% in FY 2018 and by 6.4% in 2019. “Expansion in China should moderate to 6.6 per cent in 2018 and 6.4 per cent in 2019 as economic policy leans further toward financial stability and a more sustainable growth trajectory,” the ADB said.
China has set its GDP target at around 6.5% for FY 2018. Some of the policy decisions by Modi government have been blamed by the opposition as the reasons behind declining growth and job creation rates. These include demonetisation decision and GST rollout.
The ADB report noted that India’s growth rate dip to 6.6 per cent in FY 17 was “driven in part by the lingering effect of demonetisation”. The sudden withdrawal of old Rs 500 and Rs 1000 currency notes had severely impacted the informal sector in the first half of last financial year.The growth rate was also affected by “teething issues related to the implementation of Goods and Services Tax”, ADB said.ADB chief economist Yasuyuki Sawada said, “Despite the short-term costs, the benefits of reform—such as the recently implemented GST—will propel India’s future growth.”
It is not the first time when it was proved that effect of Demonetisation and GST was only having short term pain but gain in longer terms.Last week only the report of RBI has revealed after Demonetization move of Modi Government there has been significant increase in digital transactions which is leading Modi government to fulfilment of its dream of “Cashless Economy”.According to the statistics, Digital transactions peaked at Rs149.52 trillion in March. Out of which digital transactions worth Rs104.05 lakh crore (Rs104.1 trillion) were recorded in December, the month during which the impact of demonetization was the strongest.
As per the work of Modi Government for the nation and love of people towards Modi Government undoubtedly Modi Government is going to make a strong comeback in 2019. There is no power which can stop Modi Government by their false propaganda and tactics.People of the country are very well aware of everything now and they are now not going to be fooled at any cost instead by their power they are going to show the real face to everyone who are taking advantage of them.