Union Home Minister Amit Shah on Wednesday said the Modi government has controlled the retail inflation below 5 per cent, which had reached double-digit during the Congress-led UPA regime before 2014. He also said India is now becoming the top economy in the world with progressive growth, as against a fragile economy before 2014.
At the India Global Forum’s annual investment summit NXT10 in Mumbai, Amit Shah said, “During 2004-14, India’s average inflation was at 8.2 per cent, which then surged to double-digits during 2010, 2011 and 2013. Today, we are consistently maintaining the inflation rate below 5 per cent.”
The country’s fiscal deficit was beyond control during the Congress-led UPA government before 2014, he added.
Today, India has emerged as a policy-driven state, he said. “We are approaching elections with our government’s performance of last 10 years and roadmap of next 25 years,” the Union minister said ahead of the upcoming Lok Sabha polls.
Lauding Prime Minister Narendra Modi as a visionary PM, Shah said that by 2047, when the country celebrates its centenary of independence, Bharat will be completely developed, atmanirbhar (self-reliant) and among the top three economies in the world.
“Bharat is a self-confident and self-reliant country, which has transformed itself from a dormant to a dynamic government, from regressive to progressive growth, and from a fragile economy to a top economy,” Shah said.
The progress made in the last 10 years should be compared with the previous UPA government’s decade, he said.
“Unless you do not know how deep the pothole was, you cannot understand the progress we achieved,” Shah said, adding that the country’s confidence was shaken due to various scams of Rs 12 lakh crore during the UPA’s tenure, crony capitalism was at its peak.
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