PM Modi optimistic about country’s economic growth

| | New Delhi
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PM Modi optimistic about country’s economic growth

Wednesday, 03 June 2020 | PNS | New Delhi

Notwithstanding the economic slowdown in the wake of outbreak of coronavirus, Prime Minister Narendra Modi on Tuesday said India would get its growth back, which, he asserted, “is not difficult after all”.

“Getting growth back is our motto too as we reopen the economy. India will get its growth back,” said Modi in a video address to the Confederation of Indian Industry's (CII) 125th annual session.

Stating that the revival of economy is one of the top priorities for the Government, the Prime Minister sought to point out that his Government was taking key decisions with focus on inclusiveness, investment, innovation and widening of infrastructure in the country. All sectors are future-ready and India is “ready for a big flight”, Modi maintained.

“There are so many sectors where we can do phenomenally well on the world stage,” Modi said while speaking of an “Atmanirbhar Bharat”—his campaign to reduce India’s dependence on foreign goods. “Atmanirbhar Bharat means we will be fully integrated with the world and fully supportive. However, always remember, we do not want to be dependent on others.”

“Coronavirus may have impeded our speed, but the reality today is that we have left the lockdown phase behind and now are in the Unlock 1.0 phase. Trust me, getting growth back is not so difficult after all,” he said.

The Modi Government had on Saturday said rules to ease the lockdown had an “economic focus” and would allow places of worship, hotels, restaurants and malls to resume business from June 8.

The Prime Minister said after a successful lockdown, India is opening major sectors of economy and after June 8 more areas would be re-opened.

Indian economy which was already in a slowdown mood with high unemployment rate has been hit hard following March 24 announcement of the lockdown with almost all sectors of economy forced to shut themselves. Unemployment rate is reported to be over 20 per cent after the outbreak of Coronavirus with several sectors resorting to retrenchment and job cuts.

Prime Minister said the government has taken tough steps to fight the coronavirus pandemic and has also taken care of the economy

“On the one hand we have to save lives of our people and on the other hand we have to stabilise and speed up the economy," he said.

Modi said his confidence of getting India’s growth back emanates  from the high spirit and courage of farmers, small businesses and entrepreneurs and their talents.

He said along with the decisions for immediate growth major reforms have been set for the future development.

“For us, reforms are not any random or scattered decisions. For us reforms are systemic, planned, integrated, inter-connected and futuristic process," he said.

“For us reforms mean courage to take decisions and taking them to logical conclusion”, Prime Minister sought to add.

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