Indian economy now in take-off stage; to surpass China's soon: BJP

The Bharatiya Janata Party (BJP) on Wednesday said that the Indian economy is in a healthy stage and will surpass the growth of China in the next few years.

BJP's statement comes soon after the latest ratings by Moody's which expressed concern over policy stagnancy under the leadership of the Modi government.

"The Indian economy has recovered. It is now in a take-off stage. The biggest institutions across the world consider the growth of the Indian economy to surpass that of Chinese in the coming years," BJP spokesperson GVL Narasimha Rao said.

"Industry associations like FICCI and CII have congratulated the government for the initiatives that have been taken in the recent one month. The confidence and potential of the Indian economy is unbeatable, and therefore the rating agencies will be forced to change their own assessments," he added.

Meanwhile, Nationalist Congress Party (NCP) general secretary Tariq Anwar felt that the country was in danger of facing an economic crisis.

"The ratings only suggest that the economy is going down. The Prime Minister Narendra Modi-led government has failed to fulfil the promises that they have made and if the situation goes like this, the country would have to face crisis on the economic front," he said.