India on track to become world's 3rd largest economy by 2031: BJP's Radha Mohan Das Agrawal

Mangaluru,

India has maintained strong economic growth despite global geopolitical and economic challenges and is poised to become the world's third-largest economy by 2031, senior BJP leader Radha Mohan Das Agrawal said on Saturday.

Addressing a press conference in Mangaluru, Agrawal, who serves as the BJP's National General Secretary and is also associated with parliamentary committees on home affairs, said India achieved an economic growth rate of 7.7 per cent under the leadership of Prime Minister Narendra Modi despite disruptions caused by international conflicts, including the Russia-Ukraine war and tensions in West Asia.

"India's economic growth remains among the highest in the world. At the current pace, the country is expected to emerge as the third-largest economy globally by 2031," the Rajya Sabha MP said. Comparing India's performance with other major economies, Agrawal said the country's growth rate of 7.7 per cent was significantly higher than that of the United States, China, Japan and several European economies.

He noted that India's economy had expanded from about USD 1.9 trillion in 2013-14 to over USD 4 trillion in recent years. Highlighting social and economic indicators, Agrawal said around 25 crore people had moved above the poverty line during the past 12 years. He also claimed that unemployment had been brought down to around 5.1 per cent and inflation maintained at about 4.5 per cent, while per capita income had increased substantially from around Rs 49,000 to Rs 2.35 lakh.

Listing welfare achievements of the NDA government, Agrawal said nearly four crore houses had been provided to beneficiaries, around 12 crore toilets constructed and free food grains supplied to about 80 crore people. He added that universal electrification had been achieved and that millions of citizens were benefiting from healthcare coverage under the Ayushman Bharat scheme.

Agrawal further said the union government had announced income tax relief for individuals earning up to Rs 12.75 lakh annually. He also highlighted the PM-Kisan scheme, under which eligible farmers receive Rs 6,000 annually, and said financial assistance had reached crores of beneficiaries across the country. The BJP leader said significant expansion had taken place in higher education and healthcare infrastructure over the last decade.

According to him, the number of MBBS seats increased from 51,348 to 1,28,973, while postgraduate medical seats rose from 31,185 to 85,822. The number of medical colleges also increased from 387 to 790, he said. Focusing on Karnataka, Agrawal said the state had received substantial central assistance since 2014. Over Rs 4 lakh crore had been transferred to the state government and large investments made in road, rail and infrastructure development.

"Major projects such as the Bengaluru-Chennai Expressway, the Bengaluru Ring Road project and expansion of the national highway network have strengthened Karnataka's connectivity and economic prospects," Agrawal said. He also highlighted the implementation of various central welfare schemes in Karnataka, including PM Jan Dhan Yojana, PM Mudra Yojana, PM Ujjwala Yojana, Ayushman Bharat and Jal Jeevan Mission, stating that millions of beneficiaries across the state had availed themselves of these programmes. Agrawal said the combined impact of welfare initiatives, infrastructure expansion and economic reforms had helped accelerate both national and state-level development over the past decade.