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Modi Highlights 7.8% Growth, Contrasts Pre-2014 Policy Paralysis
Prime Minister Narendra Modi spoke at a college celebration in New Delhi.
He said India’s economy grew by 7.8 per cent in the latest quarter.
He compared today’s economy with the situation in 2013.
Modi said that earlier period had high inflation, weak growth, corruption allegations and security problems.
He called it a time of “policy paralysis.”
He said India is now viewed as the fastest-growing major economy.
He pointed to higher power generation, vehicle sales and consumer demand as evidence of progress.
Modi also remembered a speech he gave at the college in 2013 and released a special Rs 100 coin for its 100th anniversary.
Prime Minister Narendra Modi said India recorded quarterly GDP growth of 7.8 per cent.
At Shri Ram College of Commerce, Modi contrasted current policy dynamism with what he called pre-2014 policy paralysis.
Modi said India had moved from the “Fragile Five” label to being seen as the fastest-growing major economy.
He cited increased power generation, vehicle sales, consumer demand and commercial activity as signs of economic strength.
Modi recalled his optimistic 2013 SRCC speech and released a commemorative Rs 100 coin for the college’s centenary.
- Who
- Prime Minister Narendra Modi, speaking to students, faculty and alumni of Shri Ram College of Commerce.
- What
- Modi highlighted India’s 7.8 per cent quarterly growth and contrasted current policy dynamism with the pre-2014 period.
- Where
- Shri Ram College of Commerce, University of Delhi, New Delhi.
- When
- Saturday, September 5; the articles do not specify the year.
- Why
- To address the college community, discuss India’s economic progress and mark the institution’s centenary.
Key facts
- Quarterly GDP growth
- India recorded 7.8 per cent growth.
- Power generation
- Power generation rose by 9 per cent, according to Modi.
- Vehicle sales
- Overall vehicle sales increased by 20 per cent; two-wheeler sales rose around 20 per cent and three-wheeler sales nearly 30 per cent.
- Earlier economic conditions
- Modi cited inflation near 10 per cent, weak growth forecasts, current-account pressure and industrial slowdown in 2013.
- Economic classification
- Modi said India had moved from the “Fragile Five” label to being regarded as the fastest-growing major economy.
- College anniversary
- Shri Ram College of Commerce marked its 100th anniversary.
- Commemorative item
- Modi released a commemorative Rs 100 coin for the college’s centenary.
Quotes
Narendra Modi
Prime Minister of India speaking at SRCC’s centenary celebrations
“I would urge the youth to look at what the situation was back then, in 2013, and look at the headlines of that time. Newspaper headlines were filled with-- Indian soldiers killed along the LoC, World Bank lowers India's growth forecast, current account deficit at an all-time high, inflation rate at 10 per cent.”
telegraphindia.com
“In 2013, when I came to SRCC, I presented a vision. Whatever I said back then was my conviction. I have always lived by those words. Dedicating my life to the nation was an emotion that took the form of words.”
telegraphindia.com
Sources
PM Modi Highlights India’s 7.8% Growth, Contrasts Present Economy With Pre-2014 ‘Policy Paralysis’ Era At SRCC Event
'Those who pushed India into 'Fragile 5' cannot digest nation's 7.8 per cent growth': Prime Minister Narendra Modi - Telegraph India
PM Modi showcases India’s 7.8 pc growth, contrasts ‘policy paralysis’ of previous era when ‘glass was half-empty’
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