Dismissing the claims of being unable to keep up to the high promises made during electoral victory, Prime Minister Narendra Modi asserted that the government has put the derailed economy back on track in this last one year, contained inflation and improved investors’ confidence in last one year, while promising of continuing to do more in the coming days to meet the high expectations of people.
The minister further highlighted that not only has the India’s economic growth revived, but has piped many more economies, to emerge as the fastest growing economy one in the world. It also pointed that while, inflation has come substantially down, confidence and foreign investments have grew up and fiscal prudence has been restored.
Further putting out the list of his government’s achievements ever since taking over reins, the minister emphasized the implementation of bold reforms like decontrol of diesel, raising Foreign Direct Investment (FDI) limit on insurance and defence and headway to roll out the Goods and Services Tax (GST) by his government.
Prime Minister added that this was just beginning and that the economy was expected to grow at over 8% in the current fiscal, up from 7.4 per cent in 2014-15 and fiscal deficit was budgeted to come down to 3.9% of the GDP this fiscal, from 4% a year ago.