Prime Minister Narendra Modi on Sunday said India is going through major social and economic changes and the resultant New India will prove to be a catalyst for global development.
"India is witnessing rapid economic and social changes. The country is going through a big transformation. We are marching towards a New India," Modi said at an investors summit here in Uttarakhand.
"Every major institution in the world is predicting that in the coming decades, India is going to be the driving engine of world growth," he added.
Modi said India's economy had stabilized over the last few years, fiscal deficit had come down, inflation was under control and the middle class was rising.
"The scale and speed at which reforms are happening are unprecedented. In the last two years, the central and state governments have ushered in more than 10,000 reforms. Thanks to this, India has made a significant jump of 42 points in the global &lsquo;ease of doing business' index," the Prime Minister said.
"As part of these reforms, more than 1,400 laws have been repealed. Major tax reforms have been brought in."
Modi said the Goods and Services Tax (GST) had been the "biggest tax reform since independence" that had made the entire country into a single market and had widened the tax base.
He said infrastructure development was taking place at a "record speed" with more than 10,000 kilometres of national highways built in the last one year.
"It means over 27 km road built per day. This rate is double as compared to road development during previous governments."
Catch up on all the latest <a title="mid-day news" href="https://www.mid-day.com/news" target="_blank">Crime, National, International and Hatke news</a> here. Also, download the new mid-day <a title="mid-day android app " href="https://goo.gl/8Xlcvr" target="_blank">Android</a> and <a title="mid-day iOS app" href="https://goo.gl/KQziH4" target="_blank">iOS</a> apps to get latest updates
<div id=":74.co" class="JL">
<div id=":74.co" class="JL" style="text-align: justify;">This story has been sourced from a third party syndicated feed, agencies. Except for the change in the headline, the story has been provided "AS-IS," "AS AVAILABLE, without any verification or editing from our side. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.</div>
</div>

Modi said India's economy had stabilized over the last few years, fiscal deficit had come down, inflation was under control and the middle class was rising

Narendra Modi says, India going through major transformation

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / News / India News / Article / Narendra Modi says, India going through major transformation

Narendra Modi says, India going through major transformation

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast