JP Naddawas elected unopposed as the BJP national president after he emerged as the only leader in the fray. He was earlier the working president of the party.
Nadda is seen as seasoned organisation man, who was associated with the AkhilBharatiyaVidyarthiParishad(ABVP) from his college days before joining the youth wing of the BJP and rising through its ranks.
Nadda has also served as a minister in the BJP governments in Himachal Pradesh and at the Centre.
The International Monetary Fund (IMF) has lowered growth estimate for India to 4.8 per cent for 2019, citing stress in the non-bank financial sector and weak rural income growth as the major factors for the downward revision.
India saw a sharp 1.2 percentage point cut to its 2020 growth forecast to 5.8%, the IMF’s biggest markdown for any emerging market, because of the domestic credit crunch.
Monetary and fiscal stimulus is expected to lift India’s growth rate back to 6.5% in 2021, which is still lower than the early estimates.
The reductions reflect the IMF’s reassessment of economic prospects for a number of major emerging markets, notably India, where domestic demand has slowed more sharply than expected amid a contraction of credit and stress in the non-bank sector.