PM Modi slams Congress for pre-2014 double-digit inflation, says rate now down to 2%

Indian Prime Minister Narendra Modi on Monday (Jul 21) slammed the previous Congress-UPA government and said that before 2014, inflation was "in double digits" and noted that the inflation rate has now dropped to around two per cent. The PM said that under his government, 250 million, or 25 crore, people have "come out of poverty", a feat he said has gained recognition and appreciation from "many institutions of the world". He noted that the drop in the inflation rate "has become a relief and a convenience in the lives of the common people in the country".

'Fragile Five'

Labelling the pre-NDA era "Fragile Five", PM Modi said that "in the economic sector, when you all gave us the responsibility in 2014, the country was going through the stage of Fragile Five." He stated that before 2014, India was "at number ten in the global economy", but that “Today, India is moving ahead at a fast pace towards becoming the third-largest economy of the world.”

Accompanied by Union Ministers Kiren Rijiju, Arjum Ram Meghwal, Jitendra Singh and L Murugan, the Indian Prime Minister also hailed Indian defence forces for the stupendous success of Operation Sindoor. He stated that the objectives of the ambitious operation were achieved 100 per cent, and that terrorist bases were razed in just 22 minutes. Calling the Indian parliament's monsoon session "a celebration of victory", he also made mention of Group Captain Shubhanshu Shukla, who made history by piloting the Axiom 4 mission to the International Space Station (ISS). He said that he hoped that all political parties and members would celebrate this victory in one voice and noted that it would further strengthen the spirit of Indian defence forces and encourage research, innovation and manufacturing in the military field. The leader further said, “Monsoon is a symbol of novelty and good harvest. The weather is progressing very well in the country. There is news of beneficial weather for agriculture. Rain plays an important role for economy, whether it is for farmers, country or the rural economy.”