Published 19:59 IST, January 6th 2020
PM Modi reveals 'Our dreams are bigger than $5 Tn economy', hours after meeting India Inc.
Unfolding his vision for the decade, PM Narendra Modi, on Monday, stated that his dreams and hopes for India extended further than $5 trillion economy
Unfolding his vision for the decade, PM Narendra Modi, on Monday, stated that his dreams and hopes for India extended further than $5 trillion economy, while addressing at the centenary celebrations of Kirloskar Group in Delhi. Stating that this decade belonged to entrepreneurs, he said that the Indian government stood with the industry as a partner. Moreover, he added that government was focused in investing Rs.100 lakh crores in the next years in the infrastructure sector.
PM Modi: 'Larger dreams than $5 trillion economy'
"As we enter the new decade, I would like to say that the decade would be of Indian entrepreneurs. The dream to make India a $5 trillion economy is just a step. We have bigger dreams and larger hopes. The real capability of entrepreneurs will come to the fore only when the Govt stands beside India, Indians, and Industry as a partner," he said.
He added," Work is on to invest Rs 100 lakh crore on public infrastructure to ease the living for people of India. It is being done at a faster rate than the past. The corporate tax rate in India today stands at lowest ever. Goods & Services Tax reform or Public Sector Banking reforms had been awaited for a long time. Today, it has been made true to remove any hindrances in the growth of the Indian industry."
PM Modi meets business stalwarts
Earlier in the day, he met with India's top business stalwarts and discussed ways to improve growth in the country. Present in the meeting were notable businessmen like Anand Mahindra (Mahindra & Mahindra), Ratan Tata (Tata Sons), Mukesh Ambani (Reliance), Gautam Adani (Adani Industries) to name a few. This move comes after Finance Minister Nirmala Sitharaman met businessmen to express their concerns ahead of the Union Budget announcement on February 1.
CII predicts Economy rise in 2020, Indian GDP at 4.5%
Amid the growing concerns over the economy, the Confederation of Indian Industry (CII) predicted that the economy would recover and overcome its slowdown in 2020. This development comes a few days after the Centre for Economics and Business Research (CEBR), a UK based think tank stated that India would achieve the goal of $5 trillion economies by the year 2026. Currently, India's second-quarter GDP (July-September) numbers stood at 4.5% - the slowest growth in almost seven years.
Updated 23:13 IST, January 6th 2020