Reforms like Goods and Services Tax have laid a solid foundation for higher Gross Domestic Product growth, said Narendra Modi.
New Delhi: Prime Minister Narendra Modi on Saturday laid out his vision for making India a USD 10 trillion economy, and the third-largest in the world, saying he wants the nation to have countless startups, and be a global leader in electric vehicles.
Prime Minister Narendra Modi said his five-year tenure had laid a solid economic foundation in the country eradicating the complete policy paralysis that had set in during the last Congress-led UPA regime.
Addressing a business summit organised by a newspaper, PM Modi said, “Total policy paralysis was observed before during the previous Congress-led UPA government. Change is clearly visible today.”
He criticised the runaway inflation, rising Current Account Deficit (CAD) and complete policy paralysis in 2013-14.
BJP-led NDA rule witnessed the highest post-liberalisation growth rate of 7.4 per cent and the lowest inflation of less than 4.5 per cent, PM Modi said.
Reforms like the Goods and Services Tax (GST) have laid a solid foundation for higher Gross Domestic Product (GDP) growth, he said.
He added: “We look forward to making India a $10 trillion economy and the world's third-largest economy.”