India Prime Minister Narendra Modi said on Monday that his government was trying to keep inflation in check. He said he has made it a priority since he came to power in 2014.
After the PM spoke on the motion of thanks on the President’s address in Lok Sabha, he said keeping inflation in check has been a priority for the government since it came to power in 2014.
In fact, our government attempted to curb inflation during this period. Between 2014 and 2020, the inflation rate was below 5 percent,” he said.
“The opposition has raised the issue of inflation here, it would’ve been better had they done so while their government was in power.
Furthermore, he explained that India faced double-digit inflation before 2014 under the UPA regime, and the government had then admitted it could not rein in inflation.
Economic progress in India
According to the Prime Minister, if Congress was in power today, it would have blamed Covid for rising inflation and moved forward.
Defaming industrialists as Covid variants would hurt the interests of Congress, he said in Lok Sabha.
Modi stated that India’s economic progress was an example for the world. The world had taken note of the country’s strides in the middle of a pandemic unlike any other.
The fastest-growing economy today is India, among other big economies. Our farmers produced record amounts of foodgrains during the Covid-19 period as well. The government provided free rations to more than 80 crore people of the country,” he said.
The Prime Minister noted that India has experienced increased exports in a number of sectors, including Krishi (agriculture), mobile, software, and defence.
The PM stated that India is now becoming an integral part of the global value chain under the Aatmanirbhar Bharat campaign. He noted that the two sectors with the most labour-intensive nature are SMEs and textiles.
During these trying times of the Covid-19 pandemic, India recorded the highest FDI inflow it had ever experienced.
Source: Times of India