Monday, 29 February 2016

In World Economy News 29/02/2016

Prime Minister Narendra Modi on Saturday said if there was a ray of hope in the world economy, it was India, as he asserted that his government was committed to transform the lives of the poor and villages.
Addressing a farmers’ rally here, he also said that the Opposition spoke of many issues but there was not an allegation of corruption against his government ever since he has been serving as “pradhan sevak“.
“Today it is agreed that if there is a ray of hope in the world economy, it is India,” Mr. Modi said at the huge rally, organised as part of BJP’s nationwide outreach to farmers.
He cited ratings by various agencies and international institutions such as World Bank and IMF to buttress his point on India offering a “ray of hope“.
Mr. Modi said whether it was World Bank or IMF or world’s rating agency, all of them were saying in one voice that if there is any country “where there is a ray of hope, that ray of hope is India“.
“In the whole world, the economy is wavering. Even those countries who say they are experts are also going through economic problems,” he said.
In spite of disturbing environment of slowdown, India is making rapid strides in growth, he said.
‘Pradhan Sevak’
On corruption, Mr. Modi said that when his government assumed office, the nation was tired of corruption.
“It’s been over 18 months since I’ve served you as Pradhan Sevak. Opposition speaks of many issues but not on allegation of corruption.”
He said when his government came to power, the entire country was disturbed by the issues of corruption.
“Only one issue was being heard in the air, on earth and water and that was corruption, corruption and only corruption.”
On the one hand, the trust in the country had fallen in the eyes of the world which was not prepared to take India into account.
India was also facing economic problems with corruption destroying the country like termites.
There was an environment of despair, he said.

Source: PTI