India’s growth story is not only good for the people of India but also for the entire world: PM in GBS

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Addressing the Global Business Summit in New Delhi, Prime Minister of India Narendra Modi speech created an energetic feel on all people in India.

On his enthusiastic speech, PM Narendra Modi said;

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.

Modi said “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 After 2014, hesitations have been replaced by hope, Obstacles have been replaced by optimism, and Issues have been replaced by initiatives.”

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

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%.

He also said that ‘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. 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.’

Modi was very proud about People of India who supports his initiatives – ‘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, it was said that governments cannot be pro-growth and pro-poor at the same time, but people of India are making it possible.’

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 government.

Four years ago, who would have believed that rupees 3 lakh crore would be returned by defaulting borrowers to creditors. This is the impact of Bankruptcy and Insolvency Code. This will help the country in allocating financial resources more efficiently.

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. 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.

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.

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.

Modi ended his speech 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.