PM Modi at IMF summit: India is a ray of hope for global economic recovery

Modi said many knowledgeable people have said that the 21st century is and shall remain the Asian Century, where India has a special place.

By: IANS | New Delhi | Updated: March 12, 2016 1:46 pm
PM Narendra Modi, PM Modi office, PMO, health treatment, treatment fund, lucknow news Prime Minister Narendra Modi

Prime Minister Narendra Modi on Saturday said even as India is now the fastest growing economy and ranks at the top in terms of favoured investment destination, reforms will continue to be pursued in the right earnest.

“My agenda for reform to transform is yet to be finished,” the prime minister told the “Advancing Asia” summit here co-hosted here by the International Monetary Fund (IMF) and the government of India. “Entrepreneurship is also booming, following a series of steps we have taken.”

With IMF Managing Director Christine Lagarde on the dias, Modi said reform of global institutions such as the World Bank and the IMF has to be an on-going process. But even now they don’t reflect the global economics realities.

“I am very happy that the IMF has decided to finalise the next round of quota changes by October 2017,” he said, a day after his government tabled a supplementary demand of grant of Rs.69,575 crore in parliament for increasing India’s quota in IMF with higher voting rights.

Modi said many knowledgeable people have said that the 21st century is and shall remain the Asian Century, where India has a special place. “We are a ray of hope for global economic recovery,” he said.

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“India has also dispelled the myth that democracy and rapid economic growth cannot go together,” Modi said, adding his country has also shown the world that a large, diverse country like India can be managed in a way that can promote economic growth and maintain social stability.

The prime minister said along with focus on macro economic stability, removing corruption and also interference in decisions of banks and regulators, his government is also helping the farm sector but not based on giving hand-outs.

“We aim to double farmer incomes,” he said, adding: “We have increased investment in the rural and agriculture sector, because that is where a majority of India still lives.”

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  1. A
    Mar 12, 2016 at 5:45 am
    Modi should be arrested for being anti-national by going against RSS POLICY ON QUOTA: “I am very happy that the IMF has decided to finalise the next round of quota changes by October 2017,” he said, a day after his government tabled a supplementary demand of grant of Rs.69,575 crore in parliament for increasing India’s quota in IMF with higher voting rights.
    1. L
      Laxminarayanan Iyengaar
      Mar 12, 2016 at 5:41 am
      Modi said he is going to double farmer suicides in next 3 years.
      1. L
        Mar 12, 2016 at 11:38 am
        Let us be positive-Infia's GDP IS ACTUALLY 150% 'EAR ON EAR' BY KING WHISPERING BY IYER ON IYER.
        1. V
          Mar 12, 2016 at 5:38 am
          காலமே இது பொய்யடா வெரும் காற்றடித்த பையடா.
          1. P
            Mar 12, 2016 at 11:51 am
            Modi's speech is sickening and without any substance.
            1. M
              Mar 12, 2016 at 7:53 pm
              Hard working and self driving people today must be proud to note it has started hurting the looters and their cronies as they now seem to be going berserk for lack of "booty" coming their way!
              1. M
                Mar 12, 2016 at 8:00 pm
                Time for India to move from Good Governance to self Governance (taking intiative with higher level of consciousness by putting in place the beings or by helping them make their way to it who are capable of doing that even at micro level) to take more load off the Govt. leaving it free to work on other challenging fronts. What that means is no thieves and looters should ever be put in a decision making position compared to UPA looters who thrived on this!
                1. M
                  Mar 12, 2016 at 7:50 pm
                  First time in a long long time India produced a leader who talks like a leader, thinks like a leader and works like a leader! Investing in people is the right way to go, empowering them so no one can compete in this front unless delivery and Governance is high. One more thing it also appears India has produced so called think tank cl who does not take any pride in doing thing themselves or encouraging others to do that, compared to so called "uneducated" who still does take pride in doing things themselves! How come India has produced such "educated" cl? What is wrong with India's education system?
                  1. R
                    Ravneet Singh
                    Mar 12, 2016 at 2:39 pm
                    Modiji is great leader. He will deposit Rs 15 lac in each and everyone's account. Thank you modiji. Modi Sarkar ki Jai.
                    1. F
                      Mar 12, 2016 at 5:32 am
                      Rapid growth: 1st week GDP - 4.5%. 2nd week GDP - 6.5% 3rd week GDP - 7.9%. Every country has a formula for GDP CALCULATION. GOI has GDP FORMULAE.
                      1. A
                        Mar 12, 2016 at 6:41 am
                        When common men like me will benefit from your reforms Modiji ..... We don't know these economic terms and policies.We are looking for proper shelter and three times meal..... Can Mallaya looted money be taken back and distributed to us so that our children will have proper food, shelter and basic education Atleast...... and not to feast and dance... You can think of investment theories , global meet and global compeion etc.Provide food to 35 percent of the hungry people.
                        1. M
                          Mar 12, 2016 at 5:46 pm
                          Going by your logic, 69% of Indians are anti national and . Modi got only 31% votes.
                          1. D
                            Mar 12, 2016 at 11:28 am
                            W world knows that and trust's Mr Modi to delever it- Alas! Those enemy within who are used to corruption and memory form cousin stuck under (RaGa dreaming of it to death) CANNOT BE TRUSTED for good will of the country. WHEN W GOVERNMENT SYSTEM HAS BEEN CORRUPTED AND VIRUSES BY CONGRESS for several generations HOW Modi can change it ALL in a short time to bring about expected results amid constant hindrance by congress and other allies who are drenched with similar guilt. All anti-Nation moves, Terrorist infiltrations, drug spread, public disorders, communal disturbances, Parliament dysfunction moves, unnecessary and meaningless protest and such tactics are all pla to prevent Modi government Mobilise the country and bring criminal element rooted in Congress to surface and eliminated with GOOD Governance and then geared to high speed the progress and create abandon JOBS never seen in History of Independent INDIA
                            1. F
                              Mar 12, 2016 at 7:46 am
                              Allow Industrialist like Mallya to loot the country in collision with the state banks and then we talk of recovery
                              1. B
                                Mar 12, 2016 at 11:42 am
                                Thai dhokla eater just ping g like he is on election campaign
                                1. m
                                  Mar 12, 2016 at 10:53 am
                                  Thoughts of modiji is always correct.
                                  1. J
                                    Joseph R Stephen
                                    Mar 12, 2016 at 12:23 pm
                                    More and More stag dramas. Let him first give back the 1000 acres of forest damaged because of the AOL Sri Sri Drama. He used the power speech to win hearts of we Indians, then the power. Now he wants to silence anyone who speaks against his policy, against the religious bigots who share power and abuse power. Mallaya walked out from India right under BJP noose by giving spirit to the entire country. He talks and talks. The town he adopted for the great clean up campaign is more dirty. The river Yamuna with a good forest cover have been made dirty. Sickening.
                                    1. K
                                      Mar 12, 2016 at 5:33 am
                                      India’s IIP (Index of Industrial production) contracts 1.5% in January, third month in a row. India's exports contract 14th month in a row to 13.6% in January. But still the ex-Sanghi pracharak is busy with his propaa to show himself in good light. The things he say is definitely not based on reality, but based on a desire to sell his jumlas.
                                      1. I
                                        Mar 12, 2016 at 11:24 am
                                        1. H
                                          Mar 12, 2016 at 9:02 am
                                          A negative in exports for months together, a negative in PMI for months together, a negative in agriculture for months together and miraculously a 7.3% growth shown in the GDP with an altered base, which nobody has been able to explain or believe. Talking of reviving the world economy by a country that is one fifth of China in GDP and just below Little Italy, is, to say the least, ridiculous.
                                          1. M
                                            M Prabhu
                                            Mar 12, 2016 at 7:10 pm
                                            Whatever Modi says , it is meant for deception of Indian potion only, he being aware of the high illiteracy in India - thus the mes cannot verify his rhetoric's. Among developing nations , the reach of Internet to Adults is 22% in India, while in China it is 65% and Brazil it is 60% . This itself calls off Modi's bluff!
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