Speaking at the inaugural session of ‘100 years of Assocham (Associated Chambers of Commerce and Industry of India)’, Prime Minister Narendra Modi said that his government has “saved” the economy.
Claiming that the economy was heading towards a disaster five to six years ago, he implied that his government has not just stabilized it but tried to bring discipline to it.
In a speech made at the event, he said:
Five-six years back our economy was heading towards disaster. Our government has not only stabilised it, but also made efforts to bring discipline to it. We have paid attention to fulfilling the decades old demands of the industry.
Continuing to speak about his government’s achievements, he explained:
Today we have a government at the Centre that is ready to listen to farmers, labours and industries. Six banks are now out of PCA (prompt corrective action). We have also accelerated the process of bank mergers. Today banks are spreading their network across the country and are striving towards making a global mark for themselves.
At a time when the country’s growth rate has declined for six consecutive terms, PM Modi believes his target of making India a $5 trillion economy remains a realistic dream.
He spoke about modernizing and formalizing the economy and said:
When I set the $5 trillion target, I was aware about the negative campaign against it. The $5 trillion target is not spontaneous. It is being debated for the last five years. In 2014, I set the target of making India open-defecation free and the country made efforts to achieve this. People’s mobilization and system modernization are important for any program to succeed.
After listening to the PM’s speech, netizens were baffled and corrected our PM.
With 4.5% GDP growth highlighting the stark opposite, the onus is on our Prime Minister to perform what he’s promised now and in the past.