Economy slid towards destruction 5 years ago, NDA government turned it around

In recent days the GDP growth has reduced to six-year low and in line with that Prime Minister, Narendra Modi said the economy has headed towards destruction five to six years ago but his NDA government turned it around with “discipline and positivity”.

In the inaugural session of ‘100 years of ASSOCHAM (Associated Chambers of Commerce and Industry of India)’ in New Delhi, he said that the economy is keeping the target of $5 trillion economy at the centre of its plans and talks are happening in several sectors. He also adds, all talks are positive and his government listens to the farmer, the labourer, and the entrepreneur as well.

Asserting that the government has brought “discipline and positivity” in the economy, Modi said the country has strengthened itself in a major way and thus, we can strive and achieve the $5 trillion economy target. PM Modi added that the country will emerge out of the current slump much stronger.

The growth of economy is sliding in recent quarters and indicating the government to take some measures including a mega corporate tax reduction to boost economic expansion. The PM also said about government’s achievements in improving the Ease of Doing Business ranking.

Highlighting his government’s initiatives including bringing in Aadhaar and the implementation of the GST, the Prime Minister said it wants to formalise and modernise the economy.

The address of the PM came at a time when the government is facing allegations of losing confidence of corporates.