Need to think big to achieve $5-trillion economy: PM

Prime Minister Narendra Modi said the aim of a $5 trillion economy was ambitious but the country would have to think big and move ahead to realise the goal. Modi said the government was focusing on village and city infrastructure, MSMEs, textiles, technology and tourism to fulfil the dream.

“Let me reassure you that India’s economy is strong. India is pursuing a dream of a $5 trillion economy with full speed and full potential,” the PM said in his reply to the motion of thanks to President’s address in Rajya Sabha.

He said several steps had been taken to thrust all these sectors forward and all processes including tax structures had been simplified to give momentum to Make-in-India. These steps would ensure new enthusiasm about manufacturing, he said, adding that the merger policy in the banking sector had already started yielding meaningful results.

Both in Lok Sabha and Rajya Sabha, the PM detailed the steps taken to accelerate growth and modernise the economy. “My vision is for greater investment, better infrastructure, increased value addition and more and more job creation,” he said in LS. He added the Centre was working on labour reforms after consulting labour unions and moving forward on this would be beneficial for economy and creating jobs.

He also said his government had cleared roadblocks in GST. He said that as CM of Gujarat, he had flagged several issues related to implementation of GST and finally resolved them after becoming PM. Modi referred to the government’s efforts to modernise infrastructure. “Infrastructure is connecting a child to her school, a farmer to the market, a businessman to his customers. It is about connecting people to people,” he added.

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