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New Delhi, Oct 17 (IANS) Prime Minister Narendra Modi painted a grim picture of India’s challenges under Congress rule as he reflected on the pre-2014 policy landscape at the NDTV World Summit on Friday evening, accusing the party of fostering policy paralysis, large-scale scams and economic mismanagement that have weakened the country.
Speaking on the theme “Invincible India” at New Delhi’s Bharat Mandapam, PM Modi addressed an audience of global leaders including Sri Lankan Prime Minister Harini Amarasuriya, former UK Prime Minister Rishi Sunak and former Australian Prime Minister Tony Abbott, and outlined India’s transformation against the backdrop of Congress-era failures.
PM Modi compared his government’s inclusive reforms with Congress’s legacy of exclusion.
“They turned people away from banks; poor people were afraid to even enter them. When we took power, half the population lacked bank accounts,” he said.
His administration opened more than 50 crore Jan Dhan accounts, democratized finance and made India a global leader in digital transactions.
Highlighting the banking sector reforms dealing with the NPA crisis inherited from the Congress, he stressed, “Unlike the Congress, we worked to democratize policies, not democratize them. This is the driving force behind Ajeya Bharat.”
Sharply criticizing the Congress party’s rule, PM Modi accused it of creating a “mountain of non-performing assets” (NPAs), alienating citizens from banking and planning to close petrol pumps for 12 hours daily to avoid subsidies.
“Before 2014, the discussion focused on global adversities, women’s safety concerns and tackling terrorist sleeper cells. Many were skeptical of India’s recovery,” he said.
Nevertheless, India has risen from the “fragile five” to a top five global economy.
“Inflation is below 2 per cent, and our average growth over the last three years has been 7.8 per cent – an unprecedented achievement,” PM Modi announced, citing the recent revision of India’s growth forecasts by the IMF (International Monetary Fund).
The Prime Minister also criticized the subsidy policies of the Congress, citing their plan to close petrol pumps from 8 pm to 8 am to save funding.
“Now, the stations operate round the clock, ensuring accessibility,” he said, underscoring his government’s commitment towards public welfare.
PM Modi highlighted India’s appeal to global investors, citing Google’s recent large investment and growing interest in the energy and semiconductor sectors.
“The world sees opportunity in India and sees us as a responsible partner,” he said. PM Modi defined India’s visit as “transforming every risk into recovery, recovery into resilience and resilience into resolve”.
Dismissing the Congress’s earlier liberalization as “forced reforms”, he described its policies as proactive and people-centred.
As the summit, themed “The Edge of the Unknown: Risk, Resolve, Renewal”, hosted global discussion, PM Modi’s address reaffirmed India’s progress, presenting his government’s reforms as a decisive break from Congress missteps, paving the way for a stronger, more inclusive nation.
–IANS
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