Competition for corruption under UPA replaced by low inflation, economic reforms: PM Narendra Modi

Change is clearly visible today, PM Modi says citing runaway inflation,

Competition for corruption under UPA replaced by low inflation, economic reforms: PM Narendra Modi

NEW DELHI: Taking a dig at previous United Progressive Alliance (UPA) rule in the ongoing global business summit at the national capital, Prime Minister Narendra Modi on Saturday drew a sharp contrast between the functioning styles of the two governments.

“Before 2014, there was a competition between ministries and individuals on corruption and on delays. Today, there is a competition as to whether India will get 100% sanitation first or 100% electrification first. Choose the kind of competition you'd prefer,” said the Prime Minister.

He went on to say, “There was competition on who can do maximum corruption, there was competition on can do fastest corruption, there was competition on who can do most innovation in corruption.

“There was competition as to whether coal will get more money or spectrum. There was competition as to whether commonwealth games would get more money or defence deals. We all saw that and we also know who were the main players involved in this competition.”

Highlighting India's growth story in front of investors, the Prime Minister said that the country's rank in the Global Innovation Index has gone up from 76 in 2014 to 57 in 2018 indicating research and innovation.

“India’s ranking in the World Travel & Tourism Competitiveness index has gone up from 65 in 2013 to 40 in 2017. Number of FTAs to India increased by around 45%, Number of approved hotels went up by 50% & Foreign Exchange Earnings in tourism also went up by 50%,” he said.

“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,” said the PM.

“India missed the bus when it came to the first three industrial revolutions but as far as the Fourth Industrial Revolution is concerned, this is a bus we haven't simply boarded, but we will also drive it,” he added while referring to Digital India.

Change is clearly visible today, PM Narendra Modi says citing runaway inflation, rising CAD and complete policy paralysis in 2013-14. BJP-led NDA rule witnessed highest post-liberalisation growth rate of 7.4 per cent, and lowest inflation of less than 4.5 per cent, he said adding that reforms like goods and services tax (GST) have laid solid foundation for higher gross domestic product (GDP) growth.