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No, India Was Not Among the Worst 5 Economies Under UPA Regime

A viral post on social media claims that India was among the 5 worst economies in the world during the tenure of UPA

Published
WebQoof
2 min read
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CLAIM

A post that has gone viral on social media claims that India was among the five worst economies in the world during the tenure of former Prime Minister Manmohan Singh.

The viral post is a collage of two pictures depicting the economic situation of the country under former Prime Minister Manmohan Singh and the current Prime Minister Narendra Modi. On the left side, there is a picture that shows a cover of TIME magazine from its July 2012 cover, titled, ‘The Underachiever: India Needs a Reboot. Is Prime Minister Manmohan Singh up to the job?’, accompanied with a line above in Hindi that translates to, "India's name included in the list of worst five economies, questions raised at the Congress rule".

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The other side of the collage shows a picture of Narendra Modi at the G20 Summit in Argentina, which he attended this month. The message accompanying the picture says, "India's name graces the list of fastest emerging economies in the world, Modi government has belief of world powers".

Many have shared the post on social media.

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TRUE OR FALSE?

While it is true that India has been emerging as one of the strong economies in the world, the claim that India was among world's worst five economies in the world at the time the TIME article was published, i.e. 2012, is false.

According to International Monetary Fund's World Economic Outlook, based on the GDP growth projections, the worst five economies of the world in 2012 were:

  • Swaziland
  • Equatorial Guinea
  • Italy
  • Cyprus
  • Spain
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According to the GDP per capita, India stood at number ten with a -0.26 percent, as per World Bank data.

As of 2017, India stands at number 7 with a $2 trillion GDP, according to World Economic Forum.

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