A way forward to $5 trillion economy with 100 lakh cr investment


Delhi: Prime Minister Narendra Modi said today that the government makes a massive investment of Rs. 100 lakh crore to develop modern infrastructure that will help double the size of the economy to $5 trillion in the next five years. Addressing the nation from the Red Fort on the 73rd Independence Day, he said that the government will continue to introduce reforms to help India become part of top 50 countries on the ”ease of doing business” ranking. “To some the target of nearly doubling the size of Indian economy to $5 trillion in five years may seem difficult. But when we see that we have added $1 trillion to the economy in five years, this target seems achievable,” PM Modi said. PM Modi said political stability provides a unique opportunity for India to grow. He referred to reforms such as GST and Insolvency and Bankruptcy Code (IBC) for aiding the growth process. The centre is delivering policy-based governance that has helped catapult the country from 142nd place among 190 nations on the World Bank’s ease of doing business ranking in 2014 to 77th position this year.