Impossible is now possible
Speaking at the ET Global Business Summit, PM said India today is a country where the impossible is now possible, which stood out in contrast to the sentiment prevalent in the previous government where the only competition was over corruption.
He said, his government inherited an economy in complete policy paralysis, plagued by runaway inflation and rising current account deficit.
“Since 2014, we are witnessing various forms of competition. A competition between ministries, a competition between states – a competition on development, a completion on achieving targets. Before 2014 also, we heard about a competition, although of a different kind. A competition between ministries, a competition between individuals – a competition on corruption, a competition on delays. There was competition on who can do maximum corruption and who can do fastest corruption. I will leave it to you to decide which form of competition you would prefer,” Modi said.
High growth, low inflation
PM Modi said that during 2014 to 2019, the country would register average growth of 7.4 percent and the average inflation would be less than 4.5 percent.
Post liberalisation of Indian economy, this will be the highest rate of average growth and lowest rate of average inflation witnessed during the period of any government.
“Namunkin ab mumkin hai”
PM Modi said that while for decades, a narrative was made that certain things are just impossible in India, the progress achieved since 2014 shows nothing is impossible for 130 crore Indians.
“Namunkin Ab Mumkin Hai (The impossible is now possible),” Modi said, pointing to how it was said that a corruption free government in India was impossible but people of India have made it possible. “It was said that economic reforms in India were impossible, but people of India are making it possible.
It was said that governments cannot be pro-growth and pro-poor at the same time, but people of India are making it possible,” the PM said.
No Avoiding-Burying-Confusing (ABC)
Modi added that the country had moved away from the “A,B,C mentality – that is “A” for avoiding, “B” for burying and “C” for confusing.” Instead of avoiding an issue, we dealt with the issue; Instead of burying it, we dug it out and communicated to the people; and Instead of confusing the system, we demonstrated that a solution is possible, the Prime Minister said to a packed audience.