BJP Hits Back at Jairam Ramesh Over Investment Data Dispute

BJP's Amit Malviya has pushed back strongly against Congress leader Jairam Ramesh's criticism of the government's economic policies. Ramesh claimed that private investment is declining, but Malviya countered with figures from the CMIE database showing private capex jumping from Rs 4.6 lakh crore to Rs 7.7 lakh crore, marking a 67 percent year-on-year increase. He stressed that investment decisions depend on demand, profitability, credit availability, and policy confidence, all of which are trending positively. Malviya highlighted that corporate profits have risen, revenue growth is strong, and margins are at five-year highs. He also defended the government's handling of fuel, fertilizer, and forex risks while noting that gross FDI inflows have surged. Malviya warned against comparing current investment levels with the pre-2014 period, which was fueled by unsustainable debt and led to the NPA crisis. The banking system today, he said, is far better positioned to support growth.