Even critics acknowledging Modi govt's handling of economy: BJP

The BJP said on Sunday that decisions taken by the Narendra Modi government to handle the economy have turned out to be correct, with even its critics acknowledging that.

BJP spokesperson Syed Zafar Islam claimed that even critics of the government have ”appreciation” for its policies.

His comments came a day after former RBI governor Raghuram Rajan said India is not facing the kind of problems which have hit Sri Lanka and Pakistan. India has adequate forex reserves and its foreign debt is also relatively low, he had said.

Islam said, ”The world has acknowledged that the Indian economy is not only on track but is also running at a fast pace. While the world is battling inflation and other headwinds, the Indian economy is strong.” ”Those who used to criticise us have changed that into appreciation,” he said.

Rajan has often in the past flagged concerns about the government’s economic and social policies.

Besides having adequate forex exchange, India also fares well on various macroeconomic indicators, including balance of payment and current account deficit, the BJP spokesperson said, adding the direction of inflation, including that of food, is also now heading downwards.

Addressing an event in Raipur on Saturday, Rajan said that India’s future lies in strengthening liberal democracy and its institutions as it is essential for achieving economic growth.

He also warned against majoritarianism.