The Jammu and Kashmir unit of the Bharatiya Janata Party (BJP) has welcomed the recent GDP growth rate of 8.2% in the July-September quarter, hailing it as a testament to India’s economic resilience under Prime Minister Narendra Modi’s leadership. Party spokesperson Gaurav Gupta stated that the growth rate, which is the highest in six quarters, is driven by robust manufacturing and double-digit expansion in services, making India the world’s fastest-growing major economy despite global challenges.
Gupta attributed the growth to the government’s reforms, including the revamped GST 2.0 framework, which has boosted manufacturing sentiment and festival-season demand. He noted that although GST 2.0 was implemented only for a short period in the quarter, its impact is expected to be more significant in the next quarter. The BJP leader also pointed out that factories have ramped up production following the reforms, resulting in a 9.1% growth in manufacturing and over 10% growth in services, which are the backbone of job creation.
Gupta emphasized that India’s economic fundamentals remain strong, with GDP growth in the first half of the fiscal year reaching 8%, substantially higher than the 6.1% growth in the same period last year. He predicted that India is likely to outpace the Economic Survey’s full-year growth projection of 6.3-6.8%, making an annual growth rate of over 7% achievable.
The BJP leader praised Prime Minister Modi’s leadership and the government’s commitment to fiscal discipline and structural transformation, which have unleashed productivity, improved ease of doing business, and strengthened macroeconomic stability. He also lauded Finance Minister Nirmala Sitharaman’s emphasis on the role of reforms and fiscal consolidation, stating that the BJP-led government remains committed to sustaining the economic momentum.
Overall, the BJP has hailed the 8.2% GDP growth rate as a milestone in India’s rise as an economic powerhouse, with Gupta stating that the country is not just growing but leading the global growth story. The party is confident that the government’s reforms and policies will continue to drive economic growth and make India a major player in the global economy.