PM defends the state of economy

The state of the economy is certainly not in a good shape. There is gloomy atmosphere all around the country in every sector of economic activities. Undoubtedly, Prime Minister Narendra Modi is trying his best to improve the economic situation in the country but it will take time. He has taken several decisions to halt the falling economic growth. He has pursued structural reforms to close all doors of corruption. The encouragement of cashless mode will certainly leave no scope of corruption. The criticism of his economic moves is not only by the opposition leaders but also his own party leaders, which has upset him. That is why while addressing the Golden Jubilee Company Secretaries of India, Prime Minister Narendra Modi has lashed out at the critics of his economic management. Two veteran leaders of his own party BJP and both are former Ministers- Yashwant Sinha and Arun Shourie- have already expressed their dismay on the fall of GDP by 2 percents in the last quarters. They criticized stingingly and said that PM Modi mismanaged the economy very badly. They also criticized PM's move of demonetization and introduction of GST. Former Finance Minister and veteran BJP leader Yashwant Sinha said that GST was an ill-conceived idea and it was hastily implemented. He also criticized the handling of economic affairs by the Union Finance Minister Arun Jaitley. Shourie said that demonetization was as bold as a suicidal step. Brushing aside all criticism of his economic management, Prime Minister Narendra Modi has strongly defended his economic policy and compared it to the previous UPA govt. and said that in that govt. at least 8 times the GDP had fallen by two per cents. PM has rightly said that fundamentals of Indian economy is very strong so minor jolt to it would make no difference. PM has rightly said that economy of the country is on firm footing and that he will never jeopardize the country's future for the present gains. He has spoken plainly on the state of the economy as he addressed the Golden Jubilee of the Institute of Company Secretaries of India. He has rightly attacked those pessimists who were exaggerating the extent of a fall in just a single quarter of growth. The PM said that many experts are in agreement that the fundamentals of the economy are strong and reforms are positive. The Govt. over the past three years has taken several important decisions to improve ease of doing business. PM has assured that economic stability would be maintained, and govt. will take all possible steps to increase investment and speed up economic development. It is correct to say that the country's economy has seen only one such quarter after achieving three years of 7.5 percent growth. The NDA Govt. is fully prepared to restore the growth trajectory. Inflation has been brought down from double-digit levels. The data indicates how the economy is improving both in urban and rural India. FMCG's growth has also increased, and so has production of coal and electricity. The credit offtake has increased and so has investments in the mutual fund. Rural road construction has increased by 50 percent in three years as has a construction in the housing sector. There may be gloom in the economy in the prevailing situation, but spreading pessimism in about it is not in the interest of the country. Prime Minister Narendra Modi is himself making the sincere effort to bring the economy of the country back on the track and be counted as the fastest-growing economy of the world.