A day after India achieved one billion in Covid vaccination doses, prime minister Narendra Modi on Friday said the world is looking at the Indian economy with a lot of optimism.
“Experts and the global agencies are very optimistic about India’s economy. Not only investments are coming in Indian companies, jobs are also being created for the youth. Along with record investments in start-ups, unicorns, too, are coming up at a record pace,” Modi said in his address to the nation.
The energy is visible in the housing sector, the prime minister added. “A number of policy reforms and initiatives taken in the past along with moves like Gati Shakti and Drone policy will help accelerate the Indian economy.” Defending the agriculture reforms brought about by the government last year, Modi said record food grains are being procured and farmers are getting paid directly for their produce. He also said India’s status as a pharma hub has been restored.
But even though there is a sense of faith with 100 crore vaccine doses, the prime minister cautioned people not to lower their guard against Covid since the “fight is on”.
Modi also urged people to buy indigenously manufactured products in the upcoming festival season.
The one-billion figure pertains only to the administration of the first dose of Covid vaccine. The quantum of the second dose as on October 22 is at 29.65 lakh.
On the economy front, Moody's Investors Service recently revised its sovereign ratings outlook for India from negative to stable. India witnessed a 20.1% GDP growth in the April-June quarter of FY22. Even though it is on a low base of a 24% contraction a year ago, it compares handsomely with the economic growth posted by big global economies. During the period, the US economy grew 6.5%, while China grew 7.9%. Japan posted a 1.9% growth, while Germany recorded 1.6% growth.
In the last one and a half years since the pandemic began, the government has unveiled four phases of stimulus package with an outlay of over ₹30 lakh crore.
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