Prime Minister Narendra Modi on Tuesday addressed the inaugural session of the ‘Journey Towards Developed India: A Post Union Budget 2024-25 Conference’ organized at Vigyan Bhavan in the national capital Delhi. He said that in the last 10 years, the country faced 5 major disasters, yet the pace of development did not stop. During the Corona epidemic, we used to have discussions and the focus of those discussions was ‘getting growth back’. I had said then that India would run on the path of development very soon. Today India’s economy is growing at a rate of 8% annually. Today we are all discussing – Journey Towards Developed India.
In his address, Prime Minister Modi said, ‘The community I belong to has become known for the fact that whatever they say before the elections, they forget it after the elections, but I am an exception in that community. So I remind you that I had said that in my third term, the country will become the third largest economy of the world. India is constantly moving ahead with very measured steps. Today, India is the 5th largest economic power in the world and the day is not far when India will become the third largest economy of the world.’
Capital expenditure reached 11 lakh crores in ten years: PM Modi
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Comparing his government with the tenure of the Congress government, PM Modi said, ‘In 2014, when the last budget of the previous government came, it was of ₹ 16 lakh crore. Today, in our government, the budget has increased three times to ₹ 48 lakh crore. The UPA government started in 2004 and the capital expenditure in the first budget of the UPA government was around 90 thousand crore rupees. After running the government for 10 years, that is, in 2014, the UPA government was able to reach the budget of capital expenditure to 2 lakh crore rupees. Today, after 10 years, in 2024, the budget of capital expenditure is 11 lakh crore rupees, which is even more.’
PM Modi told the business leaders who attended the conference, ‘I urge all of you to reflect, discuss and appreciate the progress we have made – from the depths of crisis to the heights of success. We have pulled India out of that ‘mahasankar’ (great crisis) and turned it into a shining example of progress and development. When we came to power in 2014, our biggest challenge was to revive the economy, which was derailed due to the Fragile Five crisis and big scams worth lakhs of crores of rupees. Today, we are proud to say that we have put India back on track.’