Inflation under 7%, infrastructure push, economy on track: PM Modi lists Centre's achievements in Lok Sabha

Representative image (PTI)

Prime Minister Narendra Modi, while responding to the debate on the Motion of Thanks to the President's address on February 7, listed the achievements made by his government over the past seven years.

Hitting back at the Opposition's charge of surge in the prices of daily essentials, Modi said inflation has remained under control since the BJP-led government came to power in 2014.

The rate of inflation has never crossed seven percent in the period between 2014 to 2021, and in the pre-pandemic period, it remained below 5 percent. he said. On the contrary, the numbers were running into double digits during the UPA-II government, Modi pointed out.

"The opposition has raised the issue of inflation here, it would've been better if they have raised that matter while their govt was in power. In pandemic also our govt tried to tackle inflation. During 2014-2020 the inflation rate was below 5 percent," Modi said.

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The economy, overall, is on track despite the COVID-19 jolt, the prime minister told the Lok Sabha.

"Today, India is among fastest growing economies in world. Our total exports is among highest in times of pandemic. India is creating identity in defence exports. There has been unprecedented export in mobile and agriculture. Country is among top 5 countries in renewable energy," he said.

"Under Atmanirbhar Bharat we are making greater strides in every sector," he added. "To make a good environment for entrepreneurs we have abolished 25,000 compliances," the prime minister further noted.

The 'Make in India' campaign of the Centre, Modi suggested, is aimed at making the country self-independent in all sectors including defence. "We will also do indigenous defence purchases as mentioned in this year's Union Budget," he said.

The government also is investing in labour-intensive programmes to provide an impetus to employment creation.

"The PM-Gati Shakti masterplan is playing a crucial role and acting as a catalyst of change while creating world class infrastructure and new job opportunities," Modi said.

The prime minister further noted that the Centre, in the last seven years, has created an environment that has enabled the growth of startups.

"Before 2014, there were only 500 start ups in the country. 60,000 start ups are working in this country in seven years. Unicorns are being made in it...These unicorns will go on to become large multi-national corporations and provide employment to scores of people," he said.

The number of unicorns - startups who have crossed a valuation of billion dollars - is stated to ne 81 in India, currently, which is also the third highest in the world.

"We are moving towards making the century of unicorns in a very short time. In the case of startup-unicorn, has reached number three in the world," Modi added.