UPA didn’t fail completely on the economic front

Photo: DNA RnA

Photo: DNA RnA

Congress led UPA government that has been ruling India for ten years now is facing survival issues this Lok Sabha elections. In 2009, when Congress came to power, it got more than 200 seats when the opposition parties were already saying that Congress won’t make it. But we all know what happened and who formed the government. Every media outlet be it TV, print or online – is full of stories and articles where people go on counting what UPA government failed to do, how UPA was not able to revive the economy and all. But one simple question is, how many among us; I mean how many common people actually understand the basics of issues like these?

This can be understood by the point as to how much space is given to global news in our daily lives. Like Shankar Sharma and Devina Mehra – head First Global write in their opinion piece on NDTV, “our papers carry very little global macro news and analysis, and that is largely to do with the lack of demand from readers”. They also write how people were excited in 2007 about India and its future and the same people now say the totally opposite things.

“Like in Russia, there was 2 per cent growth or lower, down from 8 per cent in 2007/8; Massive over-dependence on oil and gas. In Singapore, there was a sharp slow growth at just about 1 per cent; down from 9 per cent in 2008.It also has huge debt/GDP at 110 per cent and unsustainably high consumer debt levels. Then the US and Eurozone remain mired in a zero-to-slow growth rut, despite trillions of dollars of stimulus. Outlook for both remains fragile. What is keeping everybody worried is what will be the US’ real growth and unemployment at zero stimulus and reasonable interest rates.

If we compare this with India, it has slowed down, but compared to the fall off a growth cliff every country has seen since 2008, a 5 per cent growth with near zero debt risk, is superb performance by any standards”.

The main opponent party that has kept this issue of economy, development and price rise as their agenda to take on the Congress, are taking full advantage of this situation wherein a common person does not have the real picture about the global issues. As the writers in the article also say, “the UPA I had an easy time. It is the UPA II that has truly excelled, in the face of the worst economic crisis any living person has ever seen: by delivering reasonable growth with low risk, in the face of very, very hostile conditions”.

It is not that UPA does not have any faults or it did everything it should have, but this comparative study should give a sense to us that UPA did what it could during the recession period. The BJP party has been cashing in on this issue to gain the support and vote of the common man. What UPA has been unable to do though is to communicate its policies and plans to the people of India all across. The communication gap might prove to be real reason for the downfall of Congress which has been completely unable to reach out to the masses.