India now fastest economy in the world: FM

Union finance minister Nirmala Sitharaman, while speaking on the Modi government’s completion of nine years, said India has become the fastest growing economy in the world for this year and as well as the coming year.

She said in 2014, the Indian economy was ranked 11 and the UK was at 5. "Today, we have moved up and the UK has fallen down. It's a very big achievement for an emerging market economy. We are the fastest growing economy in the world for this year & as well as the coming year."

She also said the Centre is keeping a close eye on economic factors like inflation and prices of essential commodities.

The FM said inflation has touched 4.8%, and the wholesale price-based index is negative. She was in Mumbai yesterday to speak on 'Nine Years to Modi Government'.

In an op-ed in the national news daily The Indian Express, Sitharaman today said the "past nine years were dedicated to lifting India from the hopeless morass it had been thrown into".

She said the "next 25 years leading to India@100 need similar dedicated, corruption-free governance. Policy stability and continuity are critical. PM Modi, as a sevak, has given India that stability".

“Prime Minister Modi’s political will and stability, vision, relentless pursuit of set goals and putting nation above self are yielding results.”

On the occasion, Prime Minister Narendra Modi has also tweeted, saying as the BJP-led government completes nine years in service to the nation, "I am filled with humility and gratitude".

He said: "Every decision made, every action taken, has been guided by the desire to improve the lives of people. We will keep working even harder to build a developed India."

Speaking on giving free gas connections to 9.6 crore families, the FM said: "Under PM Ujjwala Yojana, Modi Govt has provided free LPG gas cylinder connections to 9.6 crore families who used to cook their food on chulha."

The FM said India is the 2nd largest producer of horticultural products, which has been possible due to the Modi government's policies such as PM KISAN, availability of cheap agriculture credit, stable fertiliser prices despite a 3 times rise in global prices, and quality seeds.

She added India is now the largest producer of milk largest producer of Banana; the second largest honey producer; and the second largest rice producer.

The Prime Minister has meanwhile shared the website link showcasing the development journey under the government in the past 9 years. He invited everyone to visit the website and witness how people have benefited from various government schemes.

"The Prime Minister tweeted: "9 years of unwavering dedication to the nation’s growth. I invite everyone to visit this site nm-4.com/9yrsofseva to get a glimpse of our development journey. It also gives an opportunity to highlight how people have benefited from various Government schemes. #9YearsOfSeva."