Everyone certainly knows how India’s economy is performing at its all time lowest and how inflation is taking over when there is no growth in employment opportunities and financial stability for people in the country. On the verge of breakdown it’s really surprising to see that PM Modi boasts with full confidence on how India’s economy is booming ahead of other countries during the recent pandemic.
Modi Claims That Indian Economy Has Recovered
India’s economy has recovered more strongly as compared to the impact Covid-19 pandemic had on it, said Prime Minister Narendra Modi in a recent virtual meeting. “Covid-19 affected the economies of the entire world, including that of India. But our economy has recovered more strongly than it was halted by the pandemic,” said Modi.
“When big economies of the world were busy defending themselves during the pandemic, we were carrying out reforms. When the global supply chains were disrupted, we introduced the PLI (production-linked incentive) scheme to turn new opportunities in favour of India,” he added. This scheme has been extended to the textile sector now and said that the cities like Surat can take maximum benefit of the scheme.
Statistics Projected A Sudden Rise
The National Statistical Office (NSO) recently revealed that India’s economic growth surged to 20.1 per cent in the April-June quarter of this fiscal, helped by a low base of the year-ago period, despite a devastating second wave of Covid-19. The gross domestic product (GDP) had contracted by 24.4 per cent in the corresponding April-June quarter of 2020-21.
“We should look upon ourselves as global economic leader as in the 21st century, India does not have a scarcity of opportunities to make it big,” Modi said in the meet where PM was virtually addressing a gathering after inaugurating Ahmedabad’s Sardhardham Bhavan, a complex for providing training to job aspirants.
The Sardardham Bhavan includes state-of-the-art facilities for students, with modern amenities and it provides a hostel facility for 2,000 girls irrespective of economic criteria. The construction of the training centre has been completed with a whooping cost of ₹200 crore.