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Coming years full of possibilities; India set to achieve $5 trillion economy target: Modi

Our Bureau Pune | Updated on October 17, 2019 Published on October 17, 2019

Prime Minister Narendra Modi during an election campaign rally ahead of Maharashtra Assembly polls, in Pune. Photo: PTI   -  PTI

The PM said that the target was not a number, but a dream of the people

Prime Minister Narendra Modi on Thursday said that that the coming years are full of possibilities and India is all set to achieve the target of $5 trillion economy even though some people are spreading “gloom”.

Addressing an election rally in Pune, Modi said, “ We have to prepare ourselves for the new situation. We have to change old habits and adopt new ones in personal and professional lives. Changing technology is changing the nature of employment and demand for the skill set is also changing. The government, business and youth must be ready for the new economy”.

Modi added, “When I talk to world business leaders everyone is eager to come to India . In the last five years, investment growth in India has gone up five times. India today is one of the leading FDI friendly nations in the world. Recently, you have witnessed that the government has taken a major decision about the economy. To promote manufacturing and start-ups huge corporate tax concessions have been given. The government will take all decisions that are required to improve investment conditions,” he said.

The Prime Minister said that backed by clear policies and best infrastructure, $5 trillion economy target will be achieved without any problem. “It is obvious that some people find this target difficult. They feel so because they look at this target as a number . We are assured because I have confidence on our track record and power of the youth,” said Modi.

“Let me explain,” he said, “In 2007 our country reached the first trillion stage. It took 60 years to get to the first trillion. It took another eight years to add another trillion. But in the last four years, we added another trillion in the economy. Because of this track record, we are confident and our target is high” he said.

He added that the target “was not a number, but a dream of the people. Only the bigger economy would be able to fight poverty and elevate the lifestyle of middle class,” he said.

“Those who are dismayed must remember that Modi is there. We don’t draw lines on butter, but on stone. We have big targets and big dreams. This does not mean that we are not aware of ground reality,” he said.

Over the next five years the government is going to spend ₹100 lakh crore on infrastructure. “Our focus is physical infrastructure, but digital infrastructure is going to be India’s strength . India has data power and we are working with speed on infrastructure to store the data,” Modi said. India was among the leading nations when it comes to digital transactions, he added.

Published on October 17, 2019
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