The extent and magnitude of our contribution will surprise world: PM Modi at ET Global Business Summit (Video)

Who would know better than all of you here about the challenges the country was facing during 2013-14; inflation was breaking the back of every house-hold, Increasing current account deficit & higher fiscal deficit were threatening macro-economic stability of the country: PM

Avatar Written by February 23, 2019 10:50

New Delhi: Prime Minister Narendra Modi on Saturday addressed the Economic Times Global Business Summit.

Top Points:

# We want to give our people energy security We want to cut down on import dependence; We want to make India a world leader in electric vehicles and energy storage devices. With these goals in mind, let us re-dedicate ourselves to create a New India of our dreams: PM

# With the support and partnership of the people, India has made rapid strides since 2014. This was not possible without Jan-bhagidari. It is this experience that gives us confidence that our country can provide opportunities to all its citizens, to grow, prosper and excel: PM

# The extent and magnitude of our contribution will surprise the world: PM I am also confident that India may have missed the bus during the first three industrial revolutions, but this time, it is a bus India has not only boarded but will also drive: PM

# What happened in the past is not in our hands, but what will happen in the future is firmly in our hands. We often lament at missing the industrial revolutions in the past, but today it is a matter of pride that India is an active contributor to the 4th Industrial Revolution: PM

# We have moved away from the A,B,C mentality A for avoiding, B for burying and C for confusing Instead of avoiding, we dealt with the issue; Instead of burying it, we dug it out & communicated to the people; Instead of confusing the system, we showed a solution is possible: PM

# Today, while India prepares to send a man to Mars, it is also ensuring that every Indian has a roof over his head. Today, while India is the fastest growing world economy, it is also eliminating poverty at the fastest speed: PM

# Today, while India is building a 100 smart cities across the country, it is also ensuring rapid progress in over 100 aspirational districts. Today, while India has become a net exporter of electricity, it has also ensured that crores of households got electricity: PM

# Today, while India has made its fastest train, it has also eliminated all un-manned railway crossings: PM Today, while India is building IITs & AIIMS at a a rapid pace, it has also built toilets in all schools across the country: PM

# We are working hard to create a New India which fulfils the aspirations and dreams of 130 crore Indians. Our vision of new India includes addressing the challenges of the future while also solving problems of the past: PM

# India is a country of 130 crore aspirations & there can never be a singular vision for development and progress. Our vision of new India caters to all sections of the society, irrespective of their economic profile, their caste, creed, language and religion: PM

# During 2014-19, the country would register average growth of 7.4% & the average inflation would be less than 4.5% Post liberalisation of Indian economy, this will be the highest rate of average growth & lowest rate of average inflation witnessed during the period of any govt: PM

# It was said that governments cannot be pro-growth and pro-poor at the same time, but people of India are making it possible: PM

# There was competition as to whether coal will get more money or spectrum. There was competition as to whether commonwealth games would get more money or defence deals. We all saw that and we also know who were the main players involved in this competition: PM

# It was said that it is impossible to remove corruption from the process of giving people their due, but people of India are making it possible It was said that it is impossible for the poor to leverage the power of technology,but the people of India are making it possible: PM

# It was said that making a clean India was impossible, but people of India are making it possible. It was said that a corruption free government in India was impossible, but people of India have made it possible: PM

# For decades, a narrative was made that certain things are just impossible in India. The progress our nation has achieved since 2014 gives me confidence that nothing is impossible for 130 crore Indians: PM

# There was competition as to whether coal will get more money or spectrum. There was competition as to whether commonwealth games would get more money or defence deals. We all saw that and we also know who were the main players involved in this competition: PM

# There was competition on who can do maximum corruption, there was competition on can do fastest corruption, there was competition on who can do most innovation in corruption: PM

# Before 2014 also, we heard of about a competition, although of a different kind. A competition between ministries, a competition between individuals, a competition on corruption, a competition on delays: PM

# There is competition as to which state will attract more investment. There is competition as to which states will build houses for the poor fastest. There is competition as to which aspirational district will progress fastest: PM

# Today, there is a competition as to whether India will get 100% sanitation first or 100% electrification first. There is competition as to whether all habitations will be connected by road first or all homes will get gas connection first: PM

# We are now witnessing various forms of competition. A competition between ministries, a competition between states, a competition on development, a completion on achieving targets: PM

# India’s ranking in the World Travel & Tourism Competitiveness index has gone up from 65 in 2013 to 40 in 2017. Number of FTAs to India increased by around 45%, Number of approved hotels went up by 50% & Foreign Exchange Earnings in tourism also went up by 50%: PM

# Now a business with a turnover of upto Rs 40 lakh does not have to register for GST. Now a business with a turnover of upto Rs 60 lakh does not have to pay any income tax. Now a business with a turnover of upto Rs 1.5 crore is eligible for the composition scheme: PM

# It was in this background that our government came to serve the people and today change is clearly visible. After 2014, hesitations have been replaced by hope, Obstacles have been replaced by optimism, And Issues have been replaced by initiatives: PM

# The country was facing total policy paralysis. This was preventing the economy from reaching the level which it was worthy of; The global fraternity was worried about health of this member of fragile five club. There was a perception of surrender to existing circumstances: PM

# Who would know better than all of you here about the challenges the country was facing during 2013-14; inflation was breaking the back of every house-hold, Increasing current account deficit & higher fiscal deficit were threatening macro-economic stability of the country: PM

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