Prime Minister Narendra Modi on Saturday said India is a model of high growth and low inflation. He said that the country’s GDP growth rate of 8.2 percent in the second quarter of this financial year shows that India is becoming the growth engine of the global economy. PM Modi said, “India’s confidence was shaken by the ‘colonial mentality’, but now we are moving beyond it.” The Prime Minister said that at a time when the world is full of uncertainties, India is seen in a different form. He said that the changes taking place in India are not just about possibilities, but are a story of changing thinking and direction.
India is full of confidence
Prime Minister Modi said that the world is standing at such a turning point where one-fourth of the 21st century has passed. The world is witnessing many ups and downs like financial crisis, global pandemic, technological disruption, war, these situations remain a challenge for the world in some form or the other. He said that at a time when the entire world is full of uncertainties, India is being looked at from a different perspective. He said that India is full of confidence. When it comes to economic slowdown, India writes the story of development. When there is lack of trust in the world, India is becoming a pillar of trust, when the world is divided into pieces, India acts as a bridge.
GDP growth rate of 8.2 percent is not just a number
Pointing to India’s GDP growth rate of 8.2 percent in the second quarter, the Prime Minister said that this is a symbol of our momentum. This is not just a number, but a strong macroeconomic signal. This message is that India is becoming the growth engine of the global economy. He pointed out that the global growth rate is about three percent, while the G-7 economies are growing at an average rate of about 1.5 percent.
India is a model of high growth and low inflation
PM Modi said, “At such a time, India is a model of high growth and low inflation.” He said in his address, “There was a time when people, especially the economists of our country, used to express concern about high inflation, but the same people now talk about low inflation.” Modi said that India’s achievements are not ordinary, it is not a matter of numbers, but it is a matter of fundamental changes that have taken place in the last decade.
With PTI inputs
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