The Indian economy is in a very strong position under the leadership of Prime Minister Narendra Modi. Despite all the challenges, every sector of the economy is performing well. This is confirmed by many economists and rating agencies as well as banking sector veterans. HDFC Bank Chairman Deepak Parekh has said that India will be the fastest growing economy in the world in the next few years. At the same time, he has claimed that in the last 15 years in India, 300 million people have come out of poverty. In an exclusive conversation with CNBC TV18, Deepak Parekh said that in the last 15 years, 300 million Indians have come out of poverty.
India is the fastest growing economy and will continue to be so. He said that work on food and energy security and finance and capital will have to be continued. Parekh said that we have been saying for a long time that the target for India’s growth potential is in our JD. Deepak Parekh said that I am saying this to all the foreign investors or other people I have met recently that in my working career of 50 years, I have never been more optimistic about India today. The GDP of the country was a little more than $ 300 billion in the early 1990s but today it is close to $ 3 trillion.
On Prime Minister Narendra Modi’s target for India for the next 25 years, Deepak Parekh said that the Prime Minister has the political capital from which he can take India on the path of growth because of its credibility in the international market. It is worth noting that Prime Minister Modi, while addressing the country on the 76th Independence Day, had said that India has to become a developed country in the next 25 years. While the Modi government is taking continuous steps to strengthen the economy, crude oil, edible oil, fertilizer and monsoon are working as a booster dose for the economy.
It is being claimed by government sources and economists that in the current financial year, the Indian economy will grow at the fastest pace in the world. The Modi government is working closely with the Reserve Bank to bring inflation under control. In fact, the fire that was raging in the prices of crude oil in the international market in the past, is now declining. On the other hand, the signals coming from the government show that the prices of edible oil and crude oil have softened. Food and crude oil prices are likely to fall further in the coming times.
Apart from this, the prices of fertilizers have come down and the monsoon is expected to be good this year. Inflation pressure is being said to ease. He has claimed that India will be the fastest growing economy in the current financial year and the next financial year.
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