Country will achieve 7% growth — Sinha

Releasing the economic agenda of the BJP-led National Democratic Alliance (NDA), Sinha told reporters that the economy has come out of the slowdown phase with inflation touching an all-time low, stock markets booming, bumper food crops, stable foreign exchange market and a low current account deficit (CAD). The new government after elections “will inherit an economy that is growing strongly,” he said.

This was in sharp contrast to what Vajpayee government hadinherited 17 months ago when it came to power, he said decrying the remarks by former finance minister Manmohan Singh that the economy would face a crisis in six months.

Asserting that all sectors of the economy including, cement and steel had started looking up, Sinha said, “I would certainly like to take credit for this” since what the Vajpayee government had inherited was an “economy on the downward course.”

The economic recovery “is certainly not an accident but is due to skilful management of the economy and pursuit of right kind of policy,” he said.

Political instability and Kargil had not created any lack of confidence in our system because of good management of policies by the government, he said adding there was confidence that the Vajpayee government would come back to power to bolster the economy.

Asked about the Congress charge that BJP was indulging in double speak on swadeshi, Sinha said it was on the contrary.