evidence: Another oft-repeated claim is that inflation was consistently higher under the UPA. Indeed, if we take the annual inflation rate in consumer or retail prices as measured by the Consumer Price Index, the average for the UPA period was 8.1% while that for NDA-II is 5%. However, if we take the difference between India’s CPI inflation rate and the world average, the corresponding figures are 3.7% and 3.1%, respectively for the two regimes (Figure 7). [...] Contrary to lofty expectations of autonomy and galvanisation, the Indian public sector touched its lowest ebb during the Modi tenure. Non-performing assets (NPAs) of public sector banks touched an all-time high of Rs 9 trillion. While earlier governments must bear a fair share of responsibility for the problem, when it peaked during its term, the Modi government could do little to resolve it.