Congress Manifesto promises to boost growth rate, create 10 crore jobs

New Delhi, 26 March 2014 (PTI): In its manifesto for the 2014 Lok Sabha elections released on Wednesday, the Congress party pledged to push the economic growth rate to 8% over the next three years, take firm steps to tame inflation, create 10 crore jobs and include 800 million people in the middle-class, among other promises.

 

The manifesto, which the Congress claimed was put together after consultations across the country over five months, was made public by party president Sonia Gandhi in New Delhi in the presence of vice-president Rahul Gandhi and Prime Minister Manmohan Singh.

 

The manifesto comprised a 15-point agenda for socio-economic and political transformation, laying stress on initiatives such as promoting flexible labour laws, systemic efforts to recover black money and increasing health expenditure to 3% of the Gross Domestic Product (GDP) — the total value of all goods and services produced within the country’s boundaries.

 

The party expressed its commitment to create a national consensus on affirmative action for SCs and STs for jobs in the private sector.

 

"The Indian National Congress is committed to finding a way forward for introducing reservation in education and employment for economically weaker sections of all communities without in any way affecting existing reservations for Scheduled Castes, Scheduled Tribes and Other Backward Classes."

 

The Congress also promised to work for women’s empowerment and children’s protection, and safeguarding the minorities.

It also pledged to encourage Foreign Direct Investment (FDI) and push Goods and Services Tax (GST) and Direct Taxes Code (DTC) within one year of coming to power for a third straight term.

 

Indian economy, which grew by over 9% before the 2008 global financial crisis, has slipped to decade’s low of 4.5% in 2012-13. In the current fiscal, it is estimated to expand by 4.9%. In the run-up to the key elections, the Congress-led government at the Centre has drawn flak from the Bharatiya Janata Party (BJP) over the slowdown.

 

"Continuing our record of delivering India’s highest growth rates, we will restore India to 8 per cent plus growth rate within 3 years," the manifesto said, adding that the government would continue to take firm action to control inflation even in difficult global economic scenario.

 

Admitting that there will be a moderate level of inflation in a developing economy, it said, "Reserve Bank must strike a balance between price stability and growth while formulating monetary policy."

 

The RBI has been maintaining a hawkish monetary policy stance in its bid to contain inflation. The central bank is scheduled to announce its next policy on April 1.

 

Although the wholesale price index (WPI) — long regarded as India’s main inflation measure — was nearing double digits fell to a nine month low of 4.68%, the retail inflation still remained at 8.1% in February.

 

On job creation, the manifesto said, that within 100 days of coming to power, the party would announce "a detailed jobs agenda to ensure that we create 10 crore new jobs and entrepreneurship opportunities for our youth".

 

The other major issues that figure in the Congress manifesto include welfare of students, farmers and ex-servicemen, rural development and panchayati raj, infrastructure and urban development, environment, information communication technology, fight against corruption and governance reforms.

 

The manifesto also claimed the Congress was ’the only choice’ for the nation, accusing the BJP of having a "narrow and communal perspective".