Painting a rosy picture of the Indian economy, which has posted a phenomenal 8.9 per cent growth in the third quarter of 2003-04, Union Finance Minister Jaswant Singh on Friday said that the growth tempo would maintain momentum over the next few years.
Riding on the crest of 'feel-good' factor, Singh, addressing a public meeting in Ghatkopar, in Mumbai claimed that the growth was not just based on agriculture but it was propelled by impressive performance in industry, services and exports.
Asked about Deputy Prime Minister L K Advani's comment that feel-good factor is yet to reach farmers, Singh said: "I do not want to answer this. I am talking about overall feel good factor of India."
The Union finance minister said the fiscal deficit has shrunk to 4.1 per cent and divestment revenue targets would be met as per the estimates.
Highlighting the achievements on the exports front, Singh said India's exports to neighbouring China have been much more compared to their exports to us especially in fields like chemicals, steel, pharma and textile.
India's edge in IT sector has become strong and was expected to show much better performance due to forward looking policies of NDA government led by Prime Minister Atal Bihari Vajpayee.
The foreign exchange reserves of the level of $106 billion give us a tremendous strength and "we can conquer the world with the 'transformed mentality' of attaining plenty," Singh said.
Taking a swipe at the Congress, which has been critical of BJP's feel good factor, Singh said: "It is unfortunate that Congress was unable to witness the revolutionary transition made by India in the last six years."
Singh asserted that the change for the feel good factor has to be acknowledged by the Opposition.
Stating that 'Mungerilal ke Sapne' has been achieved by the NDA regime under the stewardship of Vajpayee, Singh accused the Congress of adopting negativism. "How can one criticise one's own country while it is making rapid progress," he questioned.
It was due to political compulsions that Congress was unable to understand the feel good factor, Singh said and described Pokhran II tests as "turning point" in the country's history.
India, which faced stringent sanctions in the wake of Pokhran blasts, is now attracting global attention for investment, he claimed.
