New Delhi, October 18 (). Reflecting on the pre-2014 policy landscape at the NDTV World Summit on Friday evening, Prime Minister Narendra Modi painted a grim picture of India’s challenges under Congress rule and accused the party of fostering policy paralysis, large-scale scams and economic mismanagement that have left the country insecure.
Speaking on the theme “Unstoppable India” at the Bharat Mandapam in New Delhi, Prime Minister Modi addressed global leaders including Sri Lankan Prime Minister Harini Amarasuriya, former UK Prime Minister Rishi Sunak, and former Australian Prime Minister Tony Abbott and outlined India’s transformation in the backdrop of Congress-era failures.
He compared his government’s inclusive reforms with the Congress’s legacy of exclusion.
“They turned people away from banks. Poor people were afraid to even go to banks. When we took power, half the population did not have bank accounts,” he said.
His administration opened more than 50 crore Jan-Dhan accounts, democratizing finance and making India a global leader in digital transactions.
He asserted, “Unlike the Congress, we worked to democratize policies, not democratize them. This is the driving force behind Unstoppable India.”
He highlighted the reforms in the banking sector that dealt with the NPA crisis inherited from the Congress.
Sharply criticizing the Congress party’s rule, Prime Minister Modi accused it of building up a mountain of “non-performing assets” (NPAs), steering citizens away from banking and planning to keep petrol pumps closed for 12 hours a day to avoid subsidies.
“Before 2014, discussions focused on tackling global challenges, women’s safety concerns and terrorist sleeper cells. Many were skeptical of India’s recovery,” he said.
Nevertheless, India has joined the top five global economies.
“Inflation is less than 2 percent, and our average growth over the last three years has been 7.8 percent,” Prime Minister Modi announced, citing recent revisions made by the IMF (International Monetary Fund) in India’s growth forecasts.
He highlighted India’s appeal to global investors and cited Google’s recent large investment and growing interest in the energy and semiconductor sectors.
He further said, “The world sees opportunity in India and looks at us as a responsible partner.”
Dismissing earlier Congress liberalization as “forced reforms”, he described its policies as proactive and people-centric.
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MS/ABM
