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Monday, Oct 21, 2019

Prime Minister sees India as USD 10-trillion economy with countless startups

Speaking at the Global Business Summit here, he said his government inherited an economy in complete policy paralysis, plagued by runaway inflation and rising current account deficit.

business Updated: Feb 23, 2019 11:46 IST
Press Trust of India
Press Trust of India
New Delhi
Reforms in the last four and half years have changed the picture. “Change is clearly visible today,” PM Modi said.
Reforms in the last four and half years have changed the picture. “Change is clearly visible today,” PM Modi said.(PTI)
         

Prime Minister Narendra Modi Sunday laid out his vision for making India a USD 10-trillion economy, and the third-largest in the world, saying he wants the nation to have countless startups, and be a global leader in electric vehicles.

Speaking at the Global Business Summit here, he said his government inherited an economy in complete policy paralysis, plagued by runaway inflation and rising current account deficit.

Reforms in the last four and half years have changed the picture. “Change is clearly visible today,” he said.

BJP-led NDA rule witnessed highest post-liberalisation growth rate of 7.4 per cent, and lowest inflation of less than 4.5 per cent, he said adding that reforms like goods and services tax (GST) have laid solid foundation for higher gross domestic product (GDP) growth.

First Published: Feb 23, 2019 11:46 IST

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