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
    Abolish.quota.IMF
    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.
    Reply
    1. L
      Laxminarayanan Iyengaar
      Mar 12, 2016 at 5:41 am
      Modi said he is going to double farmer suicides in next 3 years.
      Reply
      1. L
        Let.me.know.if.you.understand
        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.
        Reply
        1. V
          Vimalan
          Mar 12, 2016 at 5:38 am
          காலமே இது பொய்யடா வெரும் காற்றடித்த பையடா.
          Reply
          1. P
            Period
            Mar 12, 2016 at 11:51 am
            Modi's speech is sickening and without any substance.
            Reply
            1. M
              MyTake
              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!
              Reply
              1. M
                MyTake
                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!
                Reply
                1. M
                  MyTake
                  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?
                  Reply
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