Modi: India’s growth, stability exception in uncertain world

Aditi Tandon
Tribune News Service
New Delhi, July 30
In his first post-Budget remarks on Tuesday, Prime Minister Narendra Modi said he was an “exception to the rule of politicians forgetting promises once elections are over”, and assured that India would become the third largest global economy soon.
He described India’s growth and stability as an exception in a world fraught with uncertainties and said its fiscal prudence was a model for others. “Even in these uncertain times, our forex has grown considerably. When most nations are struggling with low growth and high inflation, India is the only country with high growth and low inflation,” Modi said.
He added: “India today contributes 16% to the global growth. We have achieved this despite the setbacks to our economy over 10 years in the form of Covid, global conflicts and natural calamities.”
The PM was addressing industry leaders at the CII, where he urged them to “seize the golden moment with global investment interest in India peaking” and reminded them that the BJP had pulled them “out of a mega crisis which the Congress-led UPA had left in 2014”.
The PM listed “Union Budget merits”, picking some of its announcements for stress. “Often, the early Budget debate is driven by media and agendas but when you are calm, you see deeper takeaways,” he said, flagging the lesser discussed but consequential announcements of the Budget — raised allocations for nuclear power generation, digital public infrastructure in agriculture, Bhoo Aadhar — identity cards for farmlands; Rs 1000 crore venture capital fund for space economy and preparations to auction offshore mining blocks.

Good governance our agenda
Unlike past governments that came up with lofty announcements and never implemented them, we believe in reducing taxes and good governance. Narendra Modi, PM