Those who dislike Prime Minister Narendra Modi (there are enough of such people even in my own family) blame him and his BJP-led central government for everything that is wrong with the Indian economy, including what recently happened with #YesBank, even though Yes Bank was in trouble far before Modi became the PM.
Coming back to the statistics, was Modi responsible for these declines in the value added by manufacturing in the overall GDP of these countries?
- 63.8% decline in UK?
- 40.7% decline in US?
- 35.8% decline in Germany?
- 26.3% in China?
- 23.9% in Japan?
Compared to all of these other large economies, India has performed very well, with a decline of only 10.7%. But the Modi-baiters will give all the credit for that to the Congress party and the economic genius of Dr. Manmohan Singh. SUCH IS POLITICS.