In response to recent government data revealing a 7.2% growth in India’s economy for the fiscal year 2022-23, BJP spokesperson Shehzad Poonawalla criticized what he called “voodoo economics” propagated by political figures pretending to be celebrity economists. Poonawalla’s remarks were targeted at former RBI Governor Raghuram Rajan, who had earlier predicted a lower growth rate of 5% for the upcoming year. Poonawalla dubbed Rajan as “James Bond Rajan,” accusing him of wanting to witness widespread poverty for the sake of promoting his ideas on poverty alleviation.
The conversation between Raghuram Rajan and Rahul Gandhi, which took place during Rahul Gandhi’s Bharat Jodo Yatra in December 2022, became a focal point of the BJP’s response. Rajan had expressed concerns about the challenges facing the Indian and global economies, citing rising interest rates and slowing exports as contributing factors. He had also mentioned that growth numbers need to be understood in the context of previous performance to provide an accurate assessment.
Poonawalla dismissed Rajan’s predictions as pessimistic and accused Congress party supporters of intentionally seeking flaws even in favorable economic indicators. He criticized them for being “like filth-seeking flies,” always finding something negative to complain about. Poonawalla argued that the Congress party’s critics only find pleasure when surrounded by economic hardship, reminiscent of the previous UPA era.
The BJP spokesperson’s remarks highlighted the ongoing political debate regarding the state of the Indian economy and the credibility of economic predictions. While the government data indicated positive growth, the differing views between Raghuram Rajan and BJP representatives underscore the contrasting perspectives on India’s economic trajectory.
