Global buzz around high growth rate of Indian economy, says PM Modi | India News

Prime Minister Narendra Modi said on Monday that India will soon become the third-largest economy and the global buzz is around the high growth rate of the Indian economy. Addressing an event in Telangana, Modi inaugurated, dedicated to the nation, and laid the foundation stone of multiple developmental projects related to power, rail, and road sectors worth more than Rs 56,000 crore in Telangana.

He said that the mantra for the nation’s development is through the development of the states. He said that with a better economy, trust in the country grows and states also benefit from that as they get investment. He mentioned the global buzz around the high growth rate of the Indian economy as India is the only major economy that has grown by 8.4 per cent in the last quarter. “With this speed, India will become the world’s third-largest economy”, said the Prime Minister, which will also mean high growth for the economy of Telangana as well, he added.

The Prime Minister noted that the Central Government and the state of Telangana have both completed almost 10 years and said that the government is providing all possible assistance to the state to realise the dreams of its citizens. The Prime Minister inaugurated an 800-megawatt capacity NTPC Unit 2, which will further boost the electricity generation capacity of Telangana. He also mentioned the completion of electrification of Ambari – Adilabad – Pimpalkhuti rail lines and the foundation stone laying for two major National Highway projects in Adilabad, Bela, and Mulugu.

The Prime Minister underlined that these modern rail and road projects will give momentum to the development of Telangana as well as the entire region, while also reducing travel time, encouraging tourism, and creating countless employment opportunities.

Recalling the earlier neglect of areas like Telangana, the Prime Minister highlighted the new ways of governance in the last 10 years. Pointing to the more allocation for the development of the state during the last 10 years, the Prime Minister stated, “For us, development means the development of the poorest of the poor, the development of the Dalit, tribals, backwards, and deprived.” The Prime Minister said that more than 250 million people have risen out of poverty and credited the government welfare schemes for the poor. Concluding the address, the Prime Minister stressed that such campaigns will be further amplified in the next five years.

First Published: Mar 04 2024 | 6:49 PM IST