BJP to do to Jumpstart the Stalled Indian Economy

"What will BJP do to Jumpstart the Stalled Indian Economy if it is elected to Power?"
At the Evening Reception Hosted by India-America Chamber of Commerce
Gathering of Leading Business Leaders, Press and Government Officials in New York City

New York City, NY (July 26, 2013) – On the last leg of his US Visit, BJP President Shri Rajnath singh, today addressed IACC. India-America Chamber of Commerce (IACC) hosted an evening reception with Bharatiya Janata Party (BJP) President, Honorable Rajnath Singh, along with National General Secretary, Anant Kumar, and National Spokesperson, Dr. Sudhanshu Trivedi.  The chamber presented an in-depth discussion with the BJP leaders to assess the party’s role and challenges if the BJP regained power and formed the government in India’s general election next year.   While the chamber does not endorse any political party or doctrine, the purpose of the meeting was to provide clarity to the members of the chamber, US investors and press the economic impact of this possible change.

Many of you have recently expressed concerns about the current state of the Indian economy.  The growth rate of the Indian economy has dropped to almost 4.5%, from twice that number just a few years back. The Indian rupee is at 60 rupees to a dollar, from 40 to a dollar a few years back. Yet, if we were to look objectively at the inherent economic strengths of the country, India should truly be the new land of opportunity, “said Rajiv Khanna, president of IACC in his opening speech.

The question we have to ask ourselves, “Said Rajiv Khanna, president of IACC, how does a country with such strong economic fundamentals, relatively insulated from any global downturns due to its predominantly domestic growth story, lose steam? We are very fortunate to have with us today a high level delegation from India’s main opposition party, BJP, and requested Rajnath Singhji to address to the members of the chamber, investors and press.

My brothers and sisters, you have all welcomed me and as Indian culture requires, I also welcome you back, “said Honorable Rajnath Singh, president Bharatiya Janata Party (BJP) to the audience.   India is in great financial crisis.  No one can ignore India in the global economy.   India’s economy gives no comfort in this current economic situation, though bad, can rise to greater heights, India has the potential to be the great super economy of the world.

This is because the current account deficit was 2.5% but was in surplus.  First time in history of independent of India, India had surplus current accounts. We were able to pass the fiscal responsibility bill in parliament. Today the deficit is 6.4% and Inflation is 7.7% depreciation of the rupee has not resulted in greater exports. Today people have started saying" Is Indian success story is over, But I believe that success of India’s story is waiting for success and for BJP party"

News highlights on how the state of economy will change when the BJP party comes to rule

• BJP provided a developmental model that surprised the whole world since 2004.  Took over Indian government with 4.7% GDP growth and inflation was at 8 to 9%.  When BJP left power the growth rate was 8.4% and  inflation rate was at 3.5%
• Governance model, BJP government invested heavy in infrastructure. As per Govt. of India's affidavit in Supreme Court   More than 50% highways built in last 32 years were during 6 year of BJP rule.  This is called economic accomplishment by the BJP party

Sri Rajnath Singh pointed out one exemplary achievement of each BJP ruled state government

• Gujarat – The wonders of this state speaks for itself even on international scene
• Madhya Pradesh - This state was called as a weak or "Bimaru" state.  In agriculture history of India there has never been 19% growth and today it is 2%. MP Has become biggest contributor to food grain pool of Indi
• Chhattisgarh –  First state in India Has provided full food security to 90% population with existing PDS system which was considered failed nationwide.
• Goa – Only state where the petrol is cheaper than diesel just like United State

Now if BJP came to power imagine the strength of the economy continued, Honorable, Rajnath Singh.  BJP states have growth rates of 10% while national average is around 5%.  Our country has seen two models;  the congress model (more than 50 years) and BJP model (for 6 years).

BJP will soon present a vision document, which will be ready to be distributed in time for election that will describe what will be done in each sector.   We have proven and created 67 million jobs in 6 years of power.  After leaving power, 2.7 million jobs were created by the Congress ruling party as reported by the government agency.

Honorable, Rajnath Singh continued by saying, that I come from a very ordinary family and can tell you with confidence; we cannot become a super power without razing agriculture. We will make India the world intellectual capital and agricultural capital.  We will stop unnecessary urbanization of India by providing necessities in the rural area for a good rural area itself.

PURA – Provide Urban facilities to Rural Area.  This was Attal Bihari Vajpayee, former prime minister of India.  The PURA theme was created for small towns.  Today 70% people live in villages and the conditions are poor.  Young generation in the villages has all the talents but no opportunities and this must be taught by the governments.

India, today has a serious need for reforms and a different economic model is needed.   He emphasized by saying that if US and India move together, it will be a valuable partnership.  We the BJP party now would like to create a strategic partnership with United State, “said Rajnath Singh at the end of the event.

United States might need to rethink some of the comprehensive immigration reforms.  For example:

• H1 visas: natural fees are increased as it costs more to process them.  It will go up a bit more.  India has an important role to play with US in the knowledge industry which can help the IT sector.
• Drug licensing:  The US complaint against India, there is only one case where other nations have 3-4 cases.
• Clean energy: Shell gas technology invention and the US scientist should be applauded but give it to the world to solve world energy problems. With the technology India would move to clean at a rapid pace.
• Climate change: India is 1.5 ton per capita…US is 20 ton per capita. Global. Average is 4.5 ton per capita per annum. US should itself think.