NEW DELHI: Prime Minister Modi said on Saturday that the Covid-19 pandemic affected the country, but the recovery has been faster than the damage. “Covid-19 affected economies around the world, including India. But our economy has recovered strongly, ”Modi said at the inauguration of Sardardham Bhavan in Ahmedabad.
The prime minister said India was in reform mode when the big economies were in a defensive mode. “When global supply chains were disrupted, we launched PLI (production-linked incentives) plans to change the course in favor of India,” the prime minister said. He said the recently launched PLI in textiles will greatly benefit cities like Surat.
The latest data showed that the economy has continued to recover from the pandemic as borders have risen across the country. The economy grew by 20.1% in the April-June quarter of the current fiscal year ending in March and several key indicators point to a solid recovery in the following quarters. Data released on Friday showed July industrial production was almost back to pre-Covid levels, with an annual increase of 11.5%. The Union Cabinet has approved a PLI plan of 10.683 billion for the textile sector and the government hopes to make significant investments in the sector and create new jobs. The PLI plan, which covers ten sectors, including textiles and cars, aims to attract investment, create jobs and boost economic growth, as well as help the ongoing economic recovery.
“We should see ourselves as a world economic leader in the 21st century. India has no shortage of opportunities to make it big, ”he said. Experts say the economy is achieving double-digit expansion in 2021-22 and the finance ministry has said the rapid increase in vaccination coverage and the richer experience in pandemic management provide the confidence that recovery can continue even in the event of a third wave.
The prime minister said the hostel facility to be inaugurated will also help many girls show up. He said the state-of-the-art building, the girls ’hostel and the modern library will allow young people. The Prime Minister said that continuous efforts are being made to advance those sectors of society that have been left behind. He said that, on the one hand, work is being done for the rights of Dalits and the socially backward, and on the other hand, 10% has been reserved for those who are financially backward. These efforts are creating new confidence in society, he said.
Modi said the national education policy will prepare students for the skills required in the market. He said the “Skill India mission” is also a high priority for the country.
The prime minister said India was in reform mode when the big economies were in a defensive mode. “When global supply chains were disrupted, we launched PLI (production-linked incentives) plans to change the course in favor of India,” the prime minister said. He said the recently launched PLI in textiles will greatly benefit cities like Surat.
The latest data showed that the economy has continued to recover from the pandemic as borders have risen across the country. The economy grew by 20.1% in the April-June quarter of the current fiscal year ending in March and several key indicators point to a solid recovery in the following quarters. Data released on Friday showed July industrial production was almost back to pre-Covid levels, with an annual increase of 11.5%. The Union Cabinet has approved a PLI plan of 10.683 billion for the textile sector and the government hopes to make significant investments in the sector and create new jobs. The PLI plan, which covers ten sectors, including textiles and cars, aims to attract investment, create jobs and boost economic growth, as well as help the ongoing economic recovery.
“We should see ourselves as a world economic leader in the 21st century. India has no shortage of opportunities to make it big, ”he said. Experts say the economy is achieving double-digit expansion in 2021-22 and the finance ministry has said the rapid increase in vaccination coverage and the richer experience in pandemic management provide the confidence that recovery can continue even in the event of a third wave.
The prime minister said the hostel facility to be inaugurated will also help many girls show up. He said the state-of-the-art building, the girls ’hostel and the modern library will allow young people. The Prime Minister said that continuous efforts are being made to advance those sectors of society that have been left behind. He said that, on the one hand, work is being done for the rights of Dalits and the socially backward, and on the other hand, 10% has been reserved for those who are financially backward. These efforts are creating new confidence in society, he said.
Modi said the national education policy will prepare students for the skills required in the market. He said the “Skill India mission” is also a high priority for the country.