ECONOMY
Our Economic Policy
India's GDP in 1990-91 was approximately 25 lakh crore in constant prices. In 13 years, first under a Congress government and later under coalition governments, the GDP doubled and reached a value of 50 lakh crore in 2003-04. In 10 years under the UPA, the economy doubled again and the GDP was at 100 lakh crore in 2013-14. A 100 lakh crore economy was inherited by the BJP/NDA government but it wasted the golden opportunity. If the UPA had continued in office, the economy would have doubled again and stood at 200 lakh crore in 2023-24. Alas, due to the BJP's mismanagement, the GDP will reach a level of only 173 lakh crore by the end of 2023-24 falling short of a target that was unachievable.
The Congress is committed to rapid growth and generation of wealth. We have set a target of doubling the GDP in the next 10 years.
Implementation Framework:
WORK
1. Support the private sector and every kind of enterprise
2. Remove current environment of distrust and fear
3. Create healthy eco-system for business
4. Protect innovation and intellectual property rights
5. Provide access to finances
6. Ensure freedom to produce and sell anywhere
WEALTH
Wealth and wealth creation are the goals of any business. Industrial and business policies and regulations will be designed to facilitate:
- Production of goods and services in larger volumes
- Higher values
- Productivity improvement
- Access to finances, raw materials, technology
- Intellectual property protection
- Free and fair trade
Supporting Economic Policies:
1. Open economy vision
2. Private sector driven growth
3. Strong public sector
4. Focus on job creation
5. Manufacturing emphasis
6. Export promotion