Thus spoke Modi on economy

The cash to GDP ratio has come down to 9 percent, from 12 percent before demonetisation, said the prime minister

GN Bureau | October 5, 2017


#Economy   #Narendra Modi Speech   #Narendra Modi   #GDP  


Prime minister Narendra Modi strongly defended the fundamentals of the Indian economy, gave a befitting reply to critics and cautioned against people who spread pessimism in his speech at the inauguration of the Golden Jubilee Year of the Institute of Company Secretaries of India.

Here are the highlights of Modi’s speech:
 

  • There are a few people in our country who attempt to weaken the honesty of our social structures, and lower the nation's dignity. The government is working towards cleansing the system of such elements.
  • As a result of the efforts of the government, the economy is functioning with less cash. The cash to GDP ratio has come down to 9 per cent, from 12 per cent before demonetisation.
  • In the past the growth rate had fallen below 5.7 per cent. The low growth rates, on those occasions, had been accompanied by higher inflation, higher Current Account Deficit and higher fiscal deficit.
  • The government is committed to reversing this trend of the decline in growth in the previous quarter.
  • Several important reform related decisions have been taken and this process will continue.
  • The country's financial stability will be maintained.
  • A premium would be placed on honesty, and the interests of the honest would be protected.
  • Businessmen and traders now returning to mainstream may be worried that old records will be checked. We will not allow that to happen. I welcome you now, leave the old things behind and do not be worried. I am with you in the future.
  • People now think fifty times before dealing in black money.
  • There are many Shalyas (a character in Mahabharata) today. They spread pessimism and get a good night’s sleep only after they spread gloom and hopelessness.
  • 87 small and big reforms have been carried out in 21 sectors.
  • Care is being taken to ensure that savings accrue to the poor and the middle class, even as their lives change for the better.
  • Won’t let the present problems jeopardise the future of the country.



Click here to read the full speech


 

Comments

 

Other News

Covid-19: Daily new cases fall below 50K

India has leaped across several significant milestones in its fight against Covid-19. The new confirmed cases in the 24 hours to Tuesday morning have fallen below 50,000 (46,790, to be precise) for the first time in nearly three months. The last time the number of new cases was close to this level was on J

Swachh Bharat Mission – Urban: A way forward for sustainable sanitation

"Sanitation is more important than independence". --Mahatma Gandhi The world is moving towards global transformation and sanitation is an important aspect in the development of any country. The United Nations (UN) has observed in 2015-16 that 19.7%

Media taking advantage of a divided Bollywood: Shatrughan Sinha

Legendary film star and politician Shatrughan Sinha has said that friendship in Bollywood is limited to onscreen, and there is no unity and some news channels are taking advantage of this situation. “Groups within the industry or their supporters may sometimes come together for some c

‘2.40 lakh TB cases went unreported in India in 2019’

In India, only 2.40 million out of an estimated 2.64 million cases of tuberculosis were reported to the government, that is, 2,40,000 TB patients went unreported, in 2019, according to the WHO Global Tuberculosis Report 2020. The reporting of TB cases, however, has significantly increased ov

We must fight for Right to Information

Fifteen years back, the Right To Information (RTI) Act became operational on October 12, 2005. It was the auspicious day of Vijayadashmi. It appeared to herald a new evolution in Indian democracy. Citizens who had been advocating this law saw an opportunity of converting India’s defective elective de

Uddhav shoots back at governor’s sarcasm

As Maharashtra governor Bhagat Singh Koshyari went sarcastic and wrote to chief minister Uddhav Thackeray, asking him if he had turned ‘secular’ – an epithet he hated, as the places of worship remain closed amid the Covid-19 pandemic; the Shiv Sena chief replied he did not need certificat

India Police Virtual Summit and Awards 2020

Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter