'Govt has courage to take bold decisions': PM Modi confident of Indian economy reaching USD 5 trillion by 2022
Prime Minister Narendra Modi on Thursday laid the foundation stone for the proposed India International Convention Centre at New Delhi's Dwarka. The prime minister claimed that convention centre will promote industry and startup, while creating at least 5 lakh jobs in the future.
At the inauguration of the convention and expo centre, PM Modi said that the size of Indian economy will double to USD 5 trillion by 2022 with manufacturing and agriculture contributing USD 1 trillion each.
Citing this week's announcement of merger of Dena Bank, Vijaya Bank and Bank of Baroda to create the country's third largest lender, the prime minister said that the government will not shy away from taking tough decisions in the national interest.
Indian economy, he said, will grow at over 8 per cent rate with massive employment generation being seen in IT and retail sectors. Macroeconomic fundamental of the economy are strong, he said.
The government's push for Make-in-India has led to 80 per cent of mobile phones currently in use being manufactured within the country, helping save Rs 3 lakh crore in foreign exchange.
The government, he said, has courage to take bold decisions.
Besides banks' merger, he cited the rollout the Goods and Services Tax (GST), which amalgamated 17 central and state taxes, among the bold measures taken by the government.
Watch PM Modi's full speech at Dwarka event here:
PM Modi took the metro
On his way over to the foundation laying site, the prime minister toold the airport metro line from Dhaula Kuan to Dwarka on Thursday. Official sources said the ride was completed in 18 minutes.
Modi has been using the Metro service to reach distant venues to avoid traffic jams which occur during VVIP movement.
(With inputs from PTI)
