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GDP growth went below 5.7% eight times during UPA rule: Modi

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October 04, 2017 19:02

Prime Minister Narendra Modi addresses company secretaries at inauguration of Golden Jubilee Year of ICSI in Delhi:

- After Demonetisation the cash to Gross Domestic Product ratio has come down to nine per cent, before November 8, 2016 it was 12 per cent.

- During six years of the previous government there were eight instances when GDP was at or below 5.7 per cent.

- There are some people who sleep well only after they spread a feeling of pessimism all around. We need to recognise such people.

- At a time India was made member of a group in context of international economy, it was fragile 5. How did it happen when big economists were there?

- The Reserve Bank of India has predicted 7.7 per cent growth in the coming quarters.

- After achieving average growth of 7.5 per cent over three years, we accept that growth rates came down April-June but the government is committed to reverse it.

- I have told the GST council to review the problems being faced by traders and we are willing to make changes as per the suggestions.

- I assure that the steps being taken by the government will put the country in a new league of development.

- There has been an increase in auto sales, air traffic, air freight & telephone subscribers. -- ANI

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