PM Modi vows to reverse slowdown, says transparent governance is being realised

Prime Minister Narendra Modi on Wednesday vowed to reverse the slowdown in growth, saying that he will not let the present problems jeopardize the future of the country.

Inaugurating the Golden Jubilee Year Celebrations of the Institute of Company Secretaries of India (ICSI), Modi said the BJP government had brought down inflation from 10 per cent in the UPA regime to 2.5 per cent, shrunk Current Account Deficit to near 1 per cent from 4 per cent and brought down fiscal deficit to 3.5 per cent from 4.5 per cent.

Fiscal deficit over the years. pic.twitter.com/qW9qTTOa2J

— PMO India (@PMOIndia) October 4, 2017

GDP growth was 5.7 per cent or less than that on eight occasions during previous UPA government, he said, lamenting how pessimists were describing the April-June growth of 5.7 per cent as doomsday.

GDP growth rate over the years. pic.twitter.com/YjkW9LUeJr

— PMO India (@PMOIndia) October 4, 2017

Modi made comments days after senior BJP leader Yashwant  Sinha in an article headlined "I need to speak up now", described the economy as a "mess" that will not resuscitate before the next general elections.

The prime minister described current phase as a time of a big transformation and said the importance of honest and transparent governance is being realized.

This is the time of a big transformation, the importance of honest & transparent governance is being realized: PM Narendra Modi pic.twitter.com/DGATCBdDeR

— ANI (@ANI) October 4, 2017

Modi said the government understands the value of people’s hard earned money, and their policies and schemes are focused on improving the lives of the poor middle class. 

Also Read: PM Modi hits out at critics, says GDP was 5.7 % or below 8 times during UPA regime