Almost immediately after India’s Q1 GDP print of 7.8%, the questions began: Where is the growth? Can we trust the number?
My answer: don’t look at one number , look at all of them together.
GDP: 7.8% | GVA: 8.2% | Nominal GDP: 10.3% | Manufacturing: 9.2% | Investment: 11.9% | Household consumption: 7.1% | Exports: 12% | Financial, real estate & IT services: 12.1%
And the momentum hasn’t stopped:
📈 July industrial output: +6.7%, capital goods: +16.1%
📦 April–July exports: +13.16%
💰 August GST collections: ~₹2 lakh crore, +14.8% YoY
🚚 E-way bills: 13.9 crore, +7.7%
🏭 Purchasing Manager Index: 54.1 , 15
Month high
💵 Forex reserves: all-time high of ~$741 billion
How many indicators have to move in the same direction before we accept that India is growing?
This strength isn’t confined to the Centre. In August alone, the Government sent States an extra ₹1.09 lakh crore in tax devolution. The 16th Finance Commission has locked in ₹4.35 lakh crore for our villages and panchayats over the next five years. A stronger Union means stronger States and stronger States mean more reaching our people. That’s who all this is for: WE THE PEOPLE.
And all of this, while the world battled war, oil shocks and inflation. No LPG crisis. No ₹150 petrol. Reserves at a record high instead of collapsing. That’s resilience.
Beneath the headline numbers, something bigger is happening: India is becoming a manufacturing power. Electrical equipment: +27%. Transport equipment: +20%. Capital goods: +15%. Electronics and semiconductors are moving from announcement to implementation.
For decades, India imported what it consumed. Today, the ambition is different: Make in India. Design in India. Innovate in India. Manufacture in India, for the world.
This didn’t happen by accident. It’s the result of years of investment in highways, railways, airports, ports, power, digital infrastructure and manufacturing ecosystems under Hon’ble Prime Minister Shri @narendramodi Ji.
And the world is opening its doors to match that ambition. India has built a growing network of Free Trade Agreements -with Mauritius, the UAE, Australia, the EFTA bloc, and the UK - opening new markets for our exports while pulling in fresh investment and jobs, with more deals, including the EU, in the pipeline.
Question the Government on legitimate issues. Demand employment, jobs. That is democracy. But there is a difference between questioning a government and questioning every single Indian achievement.
GDP rises, question it.
Exports rise , question them
Reserves hit a record, question that too.
Global companies invest, dismiss it.
At some point: what evidence would satisfy you?
Do not tell India’s youth that their country can not win. They have watched it happen in real time, and they will keep watching it for years to come.
There was a time when Indians looked at China’s extraordinary growth and wondered: When will India grow like this?
Today, India is among the world’s fastest-growing major economies.
Why should we not be proud of that?
Question India where India needs to improve. But when India delivers, have the courage to say so.
Jai Hind 🇮🇳
@nsitharaman@PiyushGoyal@GoIStats@blsanthosh
In today's #AssamCabinet, we took several key decisions pertaining to setting up floating solar plants in beels, fodder production on mission mode, seat reservation in medical education, microfinance benefits Phase-II rollout, city gas distribution pipeline among others.
For public awareness - Reference Bandh/road & rail blockade - Operative part of the JUDGMENT AND ORDER of the Hon’ble THE GAUHATI HIGH COURT
in
Case No. : WP(C) 7570/2013
Date : 19.03.2019
Info courtesy - https://t.co/XvHrTxS3eT
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