The Prime Minister said that the nation can never fall back when its citizens have achieved stability in every aspect of life and are filled with enthusiasm. He expressed gratitude towards the Confederation of Indian Industry (CII) for inviting him to address the occasion.
Referring to the discussions during the pandemic with the business community regarding apprehensions about the growth, the Prime Minister remembered the optimism that he expressed at the time and mentioned the rapid growth that the country is witnessing today.
“Today we are discussing – Journey towards Viksit Bharat. This is notjust the change of sentiment, this reflects a change in confidence”, he said, reiterating India’s position as 5th largest economy in the world and rapid strides towards the 3rd place.
The Prime Minister recalled the time when the present government was elected to power in 2014 and highlighted the need of the hour to bring the economy back on track. He pointed out the pre-2014 era when the nation belonged to the list of fragile five economies and was marred by corruption and scams worth lakhs of crores rupees. Without delving into the specifics of the economic conditions outlined by the government in a white paper, the Prime Minister encouraged industry leaders and organizations to review the document and compare it to past economic situations. He emphasized that the current government has elevated India’s economy to new heights and rescued it from direstraits.
Putting forth some facts from the recently presented Budget, the Prime Minister compared the current Budget of Rs 48 Lakh Crore with Rs 16 Lakh Crore Budget of 2013-14, an increase of three times.
Capital Expenditure, the biggest measure of resource investment was 90 thousand crore rupees in 2004, which was taken to 2 lakh crore in the 10 years upto 2014, a 2 times increase. In comparison, this important indicator has reached beyond Rs 11 Lakh crore today a more than 5times increase.
