PM Modi shuns Opposition on economy slowdown, assures $5 trillion aim

Prime Minister Modi in retaliation to opposition parties for targeting government over slowdown of ecomy assured youth that coming years were going to be full of possibilities. He furr asserted that government is committed to make India a $5 trillion ecomy.  

"Howsoever much somebody tries to spre negativity, I assure youth that coming years are full of possibilities," Modi said dressing an election rally on Thursday. He said business leers were keen to come to India, investment has grown in five years and country is seen as an FDI-friendly country.

"Every business leer I've h a discussion with globally is keen to come to India. growth in investment in India in last five years has been five times," he said.

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PM Modi said government has taken steps to boost manufacturing and start-ups and has reduced corporate tax and will do all that is needed to boost investment and secure bright future of youth.  He said some people who look at statistics may have doubts over government's target to be a $5 trillion dollar ecomy in five years but he has faith in capability of youth.         

He said becoming a USD 5 trillion ecomy was a pledge aligned to dreams of all countrymen. " bigger ecomy, faster speed with which we will be able to remove poverty and increase income levels," Modi said. He said those who are pessimistic should realise that Modi believes in casting a line on stone and t on butter. 

Manmohan Singh on $5 trillion ecomy 

Former Finance Minister Manmohan Singh on Thursday opined that he does t think re is any hope of Indian ecomy reaching target of $5 trillion dollars by 2024, citing a decline in growth rate "year after year." former Prime Minister stated that required growth rate to reach said target is 10-12% per annum. 

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"I have said this publicly before that to reach a goal of $5 trillion by 2024, as against 2.7 trillion dollars that we h in 2018, would require a growth rate of 10-12 percent per annum. What is happening in BJP regime is that government is faced with prospect of a declining rate of growth year after year," Manmohan Singh said while dressing a press conference.

Manmohan Singh, former Prime Minister last month, stressed need for opting a ‘well-conceived’ ecomic strategy. Expressing his concern over sluggish pace of growth in Indian ecomy, increasing unemployment, poor investment, distressed farmers and crisis in banking sector, he said that democracy is t 'inimical to development' but 'increases' growth.

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