Renewed hope in intl community about India’s economic growth: Rajnath

Speed Post News Network

New Delhi : Union Home Minister Rajnath Singh on May 31, 2018, said the Central Government during the last 48 months has achieved notable successes. Addressing a presse at Bhopal, Madhya Pradesh, Rajnath Singh said, ” We see a renewed hope and belief in international community regarding India’s economic growth prospects. In last four years, India’s standing in international fora and our economic stature has increased manifold.”

“There was a time when India’s GDP growth rate used to hover around 3 percent and it was called “Hindu Rate of Growth”. After Independence, for decades India’s GDP growth was very less. International community doubted our ability to register impressive growth. It was during the tenure of the former Prime Minister Atal Behari Vajpayee that Indian economy realised its true potential and our GDP crossed 8 percent,” said Rajnath.

As a result of fiscal prudence, Rajnath said, the fiscal deficit is under check and the Current Account Deficit in fact, has been bridged to the extent that we are now Current Account Surplus.

Admitting there is some pressure due to rising US dollar and crude oil prices, Rajnath  assured the government is seriously thinking over issues related to rising oil prices. However, there is no crisis because our forex reserves at $400 billion are very comfortable, he added.

Stating that there is a big change and faster growth in the infrastructure development, Rajnath said our Government has made 27 km of highways everyday for four years compared to 12 km previously. Rural road connectivity has also improved vastly from 56 percent to 82 percent of villages during the period, he said, according to a PIB release.

The Union Home Minister said it is our firm resolve that by 2022 farmers’ incomes will double and towards this end the Union Government has taken many initiatives. The Prime Minister’s Crop Insurance Scheme is a big step towards farmers’ welfare. Our Government is conscious of bringing down input costs while farmers are being extended loan at low interest rates. The e-NAM (e-National Agriculture Market) has enabled linking of 585 “mandis”, Agricultural Produce Market Committees (APMCs), across the country, he added.

Rajnath Singh said the JAM- Jan Dhan accounts, Aadhar and Mobile connectivity- which facilitated direct transfer of subsidies to beneficiaries, has ensured the various benefits reach the poor directly and leakages are plugged. Rs 69,815 crores has been distributed among 20 crore beneficiaries. By implementing Direct Benefit Transfer (DBT), we have ensured that there are no leakages in distributing benefits to people. This helped the Government save around Rs 70,000 crore.

Of the total banks accounts opened in the world in last four years, 55 percent were opened in India under the PM Jan Dhan Yojana, Rajnath said. “I specially mentioned about Jan Dhan accounts because the subsidy money that people are receiving through direct money transfer has been made possible by opening of these accounts,” he said.

Rajnath said our Government has introduced ‘Ayushman Bharat’ scheme to provide health cover to ten crore poor families of our country. Poor people will get benefits up to Rs 5 lakh under this Health Insurance scheme.  “It is the largest state-run medical scheme in the world excelling even the famed Obama Care scheme,” he said.