India’s growth rate constantly rising; our critics at an all-time low: PM Modi

NEW DELHI: Prime Minister Narendra Modi on Friday said India’s time has come with its growth rate constantly rising and asserted that “our critics are at an all-time low”.

Addressing the Times Groups’ ET NOW Global Business Summit, Modi said the whole world’s confidence in India is constantly increasing.

“In Davos, which is like a Kumbh Mela for business people, also there was great enthusiasm for India. Someone there said India is an unprecedented success story, someone said India’s digital…infrastructure is touching new heights and someone said there is no place where India does not have influence,” Modi said.

Today, there is discussion in every development expert group that India has transformed in the last 10 years, the prime minister said.

“These things show how much confidence the world has in India. Such positive sentiment for India’s capabilities was never there. Such a positive sentiment for India’s success has probably not been witnessed before,” he said.

Modi said that in any country’s development journey, a time comes when all circumstances are in its favour and when that country strengthens itself for many centuries to come. “I see that time for India now,” he added.

“This is the time when our growth rate is constantly rising and fiscal deficit is decreasing. This is the time when our export is increasing and current account deficit is decreasing. This is the time when productive investment is at a record high and inflation are under control,” Modi said.

“This is the time when opportunity and incomes are both rising and poverty is declining. This is the time when consumption and corporate profitability are both rising and there is record reduction in bank NPAs (non-performing assets). This is the time when production and productivity are increasing and this is the time when our critics are at an all-time low,” the prime minister said.

He said his government’s policy is stability, consistency and continuity.

Modi said inflation was a side-effect of overspending and his government followed the mantra of ‘money saved is money earned’ for time-bound completion of projects.

“We valued taxpayers’ money by completing big projects like Parliament building in record time, and earned money even from scrap,” the prime minister said. (PTI)