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Economy strong under Modi rule: India’s growth rate will be fastest

Under the leadership of Prime Minister Narendra Modi, the country’s economy remains strong even during the Corona crisis. The United Nations (UN) has praised India’s corona vaccination program and described India’s growth rate as the fastest in the world. The UN said that India’s growth rate is projected to grow at 6.7 percent in the fiscal year 2022, which will be the fastest growth rate in the world. The UN has said in the World Economic Situation and Prospects 2022 report that the global growth rate will be only four percent.

Not only the countrymen but also foreign investors trust Prime Minister Modi’s amazing leadership ability and his policies. In the midst of fears of a third wave of Corona, the speed of vaccination and the way Prime Minister Modi has taken the lead has strengthened the confidence of the people. Economic activities have started getting back on track. As a result, the Indian economy is expected to grow rapidly this year. This is mainly attributed to the improvement in the performance of the agriculture and manufacturing sectors.

India can overtake Japan to become the second largest economy in Asia by 2030. IHS Markit claimed in its latest report that by 2030, the Indian economy will overtake Britain and Germany to reach the third position. According to the report, India’s GDP is estimated to increase to $ 84 trillion in 2030 from $ 27 trillion at present. According to the report, India’s growth rate is estimated to be 8.2 percent in 2021-22.

Under the leadership of Prime Minister Narendra Modi, the country’s economy remains strong even during the Corona crisis. India’s growth rate is expected to be the highest in the world even during this Corona period. Noted economist and member of RBI’s Monetary Policy Committee Ashima Goyal has said that India has come out of difficult times on the basis of better macroeconomic parameters. We are slowly making progress in the direction of generalisation. He said that in the coming budget, the announcement of the government to continue on the path of strength will give control.

Earlier, recently the Reserve Bank of India said that the Gross Domestic Product (GDP) is expected to be 9.5 percent in the current financial year 2021-22. According to Reserve Bank Governor Shaktikanta Das, signs of a boom in economic activity are showing improvement. He said that the effect of the second wave of corona in the country has reduced and economic growth will be better from the second quarter. Das said that the Reserve Bank decided to give more emphasis on economic growth due to the epidemic.

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