Rahul Gandhi said the Indian economy is “dead" in a post on X, a claim driven by embarrassing ignorance, lack of comprehension, his love for lies, and his visceral dislike for Modinomics. But what are the actual facts? What is the state of the economy?

Let the truth be told — India’s economy has emerged as a beacon of resilience in a global landscape marked by uncertainty, geopolitical tensions, and fluctuating trade dynamics. Under the astute leadership of Prime Minister Narendra Modi, the country achieved a commendable real GDP growth rate of 6.5 per cent in the fiscal year 2024–25 (FY25), with nominal GDP growth at 9.8 per cent. The Indian economy is alive and kicking.

As for Rahul Gandhi, his Congress party has been obliterated in three consecutive Lok Sabha elections, and he is now abusing our vibrant economy to settle political scores.

S&P forecasts economic growth for the USA at a tepid 1.5 per cent in FY26, for the UK at 0.8 per cent, Germany at 0.9 per cent, France at 0.6 per cent, and Japan at 0.5 per cent. China is expected to slow down to 4.3 per cent growth, and South Korea is slated to grow at 0.8 per cent in FY26. In contrast, India’s projected 6.5 per cent growth in FY26 positions it as the fastest-growing major economy, a testament to its domestic-driven economic model and policy stability under PM Modi.

Additionally, India’s mammoth foreign exchange reserves of over $695 billion and stable financial system provide a buffer against external shocks, further bolstering confidence in its growth prospects.

The current account deficit (CAD) is projected at a mere 0.9 per cent in FY26, while the fiscal deficit is estimated at 4.4 per cent, according to a CareEdge Ratings report. Don’t forget, India’s CAD has been consistently low, at 0.6 per cent of GDP during FY25 and 0.7 per cent during FY24, due to high net invisible receipts, which is great news. Net invisibles were higher during FY25 than a year ago, on account of services and personal transfers. The fiscal deficit in FY25 at 4.8 per cent was also lower than the projected 5.1 per cent, once again testifying to how the Modi government has seamlessly embraced high GDP growth without indulging in fiscal profligacy.

Clearly, under PM Modi’s dynamic leadership, India has undergone a transformative economic journey with a focus on infrastructure development and digitalisation. The proliferation of digital infrastructure, including UPI and broadband connectivity, has........

© News18