PM Modi slams critics of economic slowdown: Top quotes

PM Modi slams critics of economic slowdown: Top quotes

Coir Board Chairman C P Radhakrishnan today urged the Institute of Company Secretaries of India and its stakeholders to dedicate themselves to make Prime Minister Narendra Modi's "New India" vision a reality.

"It is true that after an average growth of 7.5 per cent in the last three years there was a reduction during April to June this year, but it is equally true that the Government is totally committed to reverse this trend".

In response to the opposition's charges of an economic crisis, PM Modi admitted that while there has been a slowdown in the current quarter, the government is already working to turn things around.

Hitting out at critics of the government's economic policies, PM Modi pointed out that this wasn't the first time the country's GDP has dipped.

PM Modi admitted that the growth rate has come down, but assured the government is taking all efforts to revive the economy. "This happens when people of the country are confident about the rising economy", said Modi.

Growth in the Indian economy, during April to June, fell to 5.7 per cent, clocking the lowest GDP growth rate under the Narendra Modi dispensation.

"I will not jeopardise the future of the country for my present gains", he said, adding that the government would focus on structural reforms rather than giving doles to win praises. "But we also want to tell you that we are equipped to deal with the issue", Modi said. The sale of telephones has also seen a growth of 14 percent and the sale of tractors has gone up by 34 percent.

The prime minister also informed that production of coal, electricity and natural gas has also increased.

In the last three years, the Prime Minister said, his government has brought in 87 big and small reforms in 21 sectors, making a comparison of the performance of key sectors with that during Congress rule.

He added that the government has worked a lot on developing roadways, electricity, shipping, railways, infrastructure projects.

Modi further added that the previous government had only spent Rs 93 thousand crore to build roads, while the BJP-led government in the first three years spent more than Rs 1 lakh 83 thousand crore.