By Gopal Krishna Agarwal,

The BJP on Thursday said India is better placed than many other countries to deal with the economic fallout of the Covid pandemic due to the Narendra Modi government’s prudent policies and criticized several opposition-ruled state governments for not slashing Value Added Tax on petrol and diesel after the Centre reduced the excise duty.

BJP spokesperson Gopal Krishna Agarwal said the cut in petrol and diesel prices by the Centre and several states, mostly ruled by the BJP-led NDA, will hand over Rs 88,000 crore in the hands of consumers as the central government works to boost demand and noted that nine states – Andhra Pradesh, Jharkhand, Maharashtra, Tamil Nadu, Telangana, Chhattisgarh, West Bengal, Delhi and Kerala – have not reduced VAT.

He said unlike many countries India did not resort to uncontrolled fiscal deficit financing which has made it much better placed to deal with inflationary pressure being felt across the world, including in the US and Europe.

The Modi government resorted to staggered fiscal stimulus and gave sector-specific packages while helping the most vulnerable people with direct benefit transfer, he said.

Alleging the the UPA rule during 2004-14 was a lost decade economically for India.