New Delhi: Prime Minister Narendra Modi on Thursday painted an optimistic picture of India’s economic future while replying to the Motion of Thanks on the President’s Address in the Rajya Sabha. He said India is moving faster than most major economies and is showing a rare balance of high growth and controlled inflation.
According to the Prime Minister, this balance reflects the deep strength of India’s economy. He said that when his government came to power, the country was facing serious financial stress and was grouped among fragile economies globally. Over the years, sustained reforms and policy discipline have helped India regain momentum.
PM Modi reminded the House that India once held a top position among global economies but slipped down the rankings due to decades of weak economic handling. He said that situation has now changed, and India is steadily moving toward becoming the world’s third-largest economy.
The Prime Minister also spoke about India’s rising global influence. He said the world is going through major changes, and many countries now see India as a reliable and trusted partner. Highlighting India’s role as a friend to the world, he said global confidence in India has grown sharply in the last decade.
Talking about trade, PM Modi said India has signed several new trade agreements with different countries. He described the recent agreement with the European Union as one of the most important deals India has ever signed. According to him, these agreements will open global markets for Indian businesses and workers.
A major focus of his speech was on youth and employment. PM Modi said new trade opportunities will benefit young people from villages, cities, and middle-class families. He assured the youth that the government is committed to standing with them as they step into global markets.
On financial inclusion, the Prime Minister highlighted the impact of the MUDRA Yojana. He said crores of small entrepreneurs have received loans without any collateral, with women being a major beneficiary. Support has also been extended to MSMEs and self-help groups across the country.
PM Modi added that India’s banking sector has become stronger than ever. He said bad loans, which were once a serious problem, have fallen sharply, and banks are now reporting record profits.
Criticising previous governments, he said political interference earlier damaged the banking system and blocked poor citizens from accessing credit.
