NDA rule has shown superior numbers on GDP growth, inflation, unemployment compared to UPA

The NDA rule of the last 10 years has shown superior numbers on GDP growth, inflation, CAD (Current Account Deficits), unemployment and FDI ex of pandemic year compared to the UPA regime, broking firm Prabhudas Lilladher said.

Under the NDA regime, tax collection has been robust, government CapEx has seen multifold increase which has kept the economy growing at 7 per cent despite global slowdown.

Rural development, food subsidy, domestic electricity connections, LPG have shown an upward trajectory under both regimes, the report said.

The NDA’s focus on infrastructure is visible as CapEx is 4 times during NDA II than UPA II, the length of the highway has more than doubled and the number of airports have increased from 74 to 146.

The NDA rule of the last 10 years has shown higher GDP growth, lower inflation, lower unemployment rate, lower CAD and higher FDI. Tax collection has picked up significantly during NDA due to benign rates and better compliance. Government-led CapEx has led to sustained growth amidst global headwinds.

NDA has undertaken several important reforms including FDI in insurance, Air India privatisation, FDI in defence, reduction in corporate tax and retrospective taxation changes, the brokerage said.

Nifty is expected to scale up to 25,810 levels by December 2024. The upward mobility in Nifty is attributed to the continuation of the NDA government and La Nina-led normal monsoons which is expected to provide stability in policies and boost demand economic growth, the brokerage said.