Prime Minister Mr. Narendra Modi, in a post-budget interaction with industry executives, expressed strong confidence in India's economic future, projecting that the nation will celebrate its 100th anniversary of independence as a developed economy. "When India celebrates 100 years of Independence, we will do so as a developed country," he stated, underscoring the nation's significant economic growth over the past decade and the successes achieved during his tenure.

Highlighting the transformative journey towards becoming a developed nation, PM Modi emphasized, "This is not just a change in sentiment, but a change in confidence. India is the 5th largest economy in the world. That day isn't far when India will become the 3rd largest in the world." This ambitious vision reflects a deep-rooted belief in India's potential and resilience.

In discussing the Union Budget 2024, PM Modi underscored India's robust economic performance, especially when compared to global trends during challenging times like the Covid-19 pandemic. "Despite the Covid-19 pandemic, India's fiscal prudence is a role model for the world. India is enjoying low inflation and high growth, unlike the rest of the world, which is suffering from high inflation and low growth," he highlighted. This statement underscores India's ability to navigate through economic turbulence with strategic planning and effective governance.

Reflecting on the government's tenure, PM Modi remarked on India's significant contribution to global growth, now at 16%, achieved despite numerous challenges such as Covid-19, wars, and natural disasters like cyclones and droughts. He noted that India's growth rate could have been even higher without these setbacks. Recalling discussions with India Inc. during the pandemic about revitalizing growth, he stated, "I had told you then that very soon, India will pick up on the track of progress. India has fought all obstacles and dealt with challenges. We would've grown much faster if these problems hadn't arisen," he asserted.

Further emphasizing the government's commitment to economic progress, PM Modi highlighted efforts to upskill the youth by introducing an internship scheme in the Union Budget 2024 aimed at enhancing employment opportunities. He extended an invitation to industry experts to collaborate with the government to create more job opportunities for India's youth across various sectors. This initiative is a strategic move to equip the younger generation with the necessary skills to thrive in a rapidly evolving job market, thereby ensuring sustained economic growth.

In conclusion, PM Modi's vision for India as a developed economy by 2047 is not just a hopeful aspiration but a well-structured plan grounded in India's recent economic successes and strategic initiatives outlined in the Union Budget 2024. This vision is set to transform India into a global economic powerhouse, with significant contributions to global growth, a thriving job market for its youth, and a resilient economy capable of overcoming global challenges.

Also Read : India's Retail Sector Sees Record Growth: Luxury Brands and Major Leases Dominate 2024

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