Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ Politics / News/  'Consumption rose 2.5x while poverty declined': PM Modi hails ‘unprecedented’ development in past 10 years
BackBack

'Consumption rose 2.5x while poverty declined': PM Modi hails ‘unprecedented’ development in past 10 years

Prime Minister Narendra Modi noted a 2.5x increase in consumption and a decline in poverty to its lowest level in India during his tenure. He criticized predecessors for doubting Indian abilities and commended the unprecedented scale of current developmental projects.

Prime Minister Narendra Modi said that there was a time in the country when Indians were labelled as 'lazy' individuals who were 'running away from the hard work' from the Red Fort. (ANI)Premium
Prime Minister Narendra Modi said that there was a time in the country when Indians were labelled as 'lazy' individuals who were 'running away from the hard work' from the Red Fort. (ANI)

Prime Minister Narendra Modi said on Monday that consumption rose by 2.5x during his tenure while poverty in India declined to its lowest level. The senior politician also lashed out at his predecessors for failing to “trust abilities of Indians" and hailed the “unprecedented" scale at which the country was now working. Modi highlighted several developmental initiatives executed by the BJP-led government and revealed that he had reviewed projects worth 17 lakh crore in the past 10 years — many of which had been pending for decades.

Modi attributed the change to his government's focus on "villages, the poor and farmers" while addressing the News9 Global Summit. The PM cited official data to add that consumption in rural India had grown at a faster pace than urban areas.

“We don't believe in politics of scarcity but governance of saturation. We have not done appeasement (tushtikaran) but chosen the path of people's satisfaction (santushti). This has been our mantra," he added.

ALSO READ: PM Modi unveils 41,000 crore worth of railway projects, says ‘New India’

The top official also highlighted a record increase in FDI from $300 billion to $640 billion, India's digital revolution, trust in India's COVID-19 vaccine and the growing number of taxpayers in the country. The country also saw a sharp increase in mutual fund investments — people had invested 9 lakh crore in 2014 while 2024 has seen a meteoric rise to 52 lakh crore.

Modi also cited several key administrative decisions taken during the past 10 years — including the repeal of Article 370, construction of the Ram temple, women's reservation bill, ‘one rank, one pension’ and abolition of instant triple talaq.

"From space to semiconductor, digital to drones, AI to clean energy, 5G to Fintech, India has today reached the forefront of the world," he said.

(With inputs from agencies)

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 26 Feb 2024, 09:26 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App