Prime Minister Narendra Modi digitally addresses an event in New Delhi on August 19, 2023.
| Photo Credit: PTI

Prime Minister Narendra Modi asserted on August 19 that India’s economy is shining as a beacon of hope in these challenging times.

“With robust growth and resilient spirit, the future looks promising. Let us keep this momentum and ensure prosperity for 140 crore Indians,” he said on X, reacting to news portal Moneycontrol’s ‘Bullish on India’ campaign.

The portal, which specialises in reporting on markets and financial sector, had posted on X that the country’s economy has not just withstood challenges, but thrived setting the stage for optimism.

The ‘Bullish on India’ campaign showcases India’s economic resilience and growth potential in various critical sectors, it said.

It aims to analyse the key drivers of India’s economic growth while fostering awareness about the unparalleled potential the nation offers at a time of a global economic slowdown, the portal said in a separate statement.

“With detailed analysis of macroeconomic factors such as manufacturing, demography, economy, markets and India’s rising stand in the global leadership, ‘Bullish on India’ has been presented as a data backed campaign that underlines India’s resilient economic growth,” it said.

The campaign seeks to analyse key drivers of India’s economic growth while fostering awareness about the “unparalleled potential” the nation offers at a time of a global economic slowdown, it added.

“There are various adversities that have shaken economies worldwide in the past few years. However, India is standing tall, retaining its stature as the ‘world’s fastest-growing major economy’,” it said, noting that the country is set to become the third largest economy in the coming years.

Prime Minister Narendra Modi addressed the media at Parliament House on the first day of the Union Budget session of Parliament
| Photo Credit: Shiv Kumar Pushpakar

Prime Minister Narendra Modi on February 1 termed the Union Budget as the “first budget of Amrit Kaal” (the 25-year period between the 75th year of independence and its centenary) and said that it would lay a strong foundation for building a developed India.

“The first budget of Amrit Kaal will build a strong foundation for building a developed India. It gives priority to the deprived. This Budget will fulfil the dreams of an aspirational society including poor people, middle-class people, and farmers. I congratulate Nirmala Sitharaman and her team for this historic budget,” Prime Minister Modi said in a televised address after the presentation of the Union budget.

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The Prime Minister called the middle class a big force to fulfil dreams of prosperous, developed India and said his government has taken many decisions to empower them. The Budget for this year rejigs tax slabs and exempts those with an income of ₹7 lakh per annum (up from ₹5 lakh per annum in the past) from paying personal income tax and also brings down the effective rate of tax for the higher tax brackets as well.

He hailed the unprecedented investment of ₹10 lakh crore in infrastructure and said it will give speed and new energy to development. Noting that PM Vishvakarma Kaushal Samman will bring a huge change in the lives of “Vishvakarmas,” the Prime Minister said that for the first time schemes relating to their support has been incorporated into the budget.

“Those toiling traditionally through their hands for the country, ‘Vishvakarmas’ are the creators of this country. For the first time scheme related to training and support for ‘Vishvakarma’ has been brought into the budget. Preparations have been made for their training, technology, credit and market support. PM Vishvakarma Kaushal Samman means PM Vikas will bring about a huge change in the lives of crores of Vishwakarma,” the Prime Minister said.

Prime Minister Modi underlined the government’s efforts to enhance the lives of women. “The government has taken several steps to make the lives of women, in rural and urban areas, easy. Women’s self-help groups will further enhance them. Special savings scheme will be started empowering women in households,” the Prime Minister said.