'Hindu rate of growth' term was coined to tarnish India's cultural heritage: PM Modi
&imwidth=600&imheight=450&format=webp&quality=medium "'Hindu rate of growth' term was coined to tarnish India's cultural heritage: PM Modi")
Prime Minister Narendra Modi Photograph: (ANI)
PM Modi said the term Hindu rate of growth was coined at a time when India struggled to achieve even 2–3 per cent economic growth.
Prime Minister Narendra Modi on Saturday (Dec 06) called on people to shed the slave mentality completely in the next 10 years, and slammed the linking of the Hindu faith with the economic growth of the country in past. He said that efforts were being made to malign the Hindu way of life with the intention of tarnishing the faith and misrepresenting India's cultural foundations and ethos.
Addressing the HT Leadership Summit in New Delhi, he said, “There is an attempt to malign the Hindu way of life by terming India’s slow growth a few decades ago as the Hindu rate of growth.
Modi asserted that India remains confident in its growth story at a time when the world is facing uncertainties over the upheaval in the global economy, pandemic, conflicts and lack of trust.
India remains visible in a different league. It is full of self-confidence. When the world talks about a slowdown, India writes its story of growth. As the world faces a trust crisis, India is becoming a pillar of trust. When the world is going toward fragmentation, India is acting as a bridge," he declared.
He mentioned second-quarter GDP figures for the current financial year when the country clocked growth over 8 per cent and described it as a reflection of the pace of India's forward movement.
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"A few days ago, India's growth rate was over 8 per cent, as per the Quarter 2 GDP figures. This is a reflection of our new pace of progress. This is not just a mere number. This is a strong macroeconomic signal. This indicates that India is becoming a growth driver of the global economy. Our figures have reached here when the global growth stands at a mere 3 per cent," Modi said.
The prime minister hailed India as a model of "high growth and low inflation" at a time when G7 economies are growing somewhere near 1.5 per cent.
"G7 economies, on average, stand at 1.5 per cent. Under these circumstances, India has become a model of high growth and low inflation. There was a time when economists in our country were concerned about high inflation. Today, they talk about low inflation. This is a fundamental change India has managed to bring in. This change is about resilience, aspirations," he added.
