Mumbai: Against the backdrop of the Congress’ criticism of the Centre over the economic health of the country, Union Minority Affairs Minister Mukhtar Abbas Naqvi on Saturday listed out various measures taken by the Narendra Modi government to make the country a $5 trillion economy.
A day after the latest GDP numbers added to the worries over the health of the economy, the minister referred to the noteban and rollout of the GST as “historic” decisions, which he said have ensured “strong and stable economy”. Speaking at a function here, Naqvi said the security, economy and prosperity of India is in the “safe and honest hands”.
He said “inclusive growth” and “development with dignity” of all sections, including minorities, is the priority of the Modi government. “In the next five years, around 25 lakh youths from minority communities will be provided employment-oriented skill training. In the next five years, five crore students, including 50 per cent girls, will be given various scholarships,” said the minister.
The Congress has accused the Centre of failing the country on the economic front at a time when the GDP for the first quarter of the fiscal 2019-20 dropped to five per cent, the lowest in the last six years. The Opposition party has called for declaration of financial emergency claiming that the country’s economy was “shrinking”.
“Historic and bold reforms taken by the government and people-friendly system is the guarantee of a strong India,” said Naqvi. He reiterated that nullifying Article 370 will result into overall development of Jammu and Kashmir and Ladakh regions.
“The ‘SEP’ (security, economy and prosperity) of the country is in safe and honest hands…The historic economic reforms such as GST and demonetisation have ensured strong and stable economy,” Naqvi is quoted as saying in a statement. The minister made these remarks during the inaugural function of the Transport Union of the BJP here.
He said the Modi government has prioritised infrastructure development in the country. “The Modi government has been taking several steps to make India a 5 trillion dollar economy,” he added. Referring to the merger of ten nationalised banks, Naqvi said now there will be 12 public sector banks. He further said the Modi government has taken strict action against economic corruption and that three lakh shell companies have been closed. Naqvi said the Union Cabinet recently approved the proposal for review of Foreign Direct Investment in various sectors.
“The changes in FDI policy will result in making India a more attractive FDI destination, leading to benefits of the increased investments, employment and growth,” he added. “In the coal sector, for sale of coal, 100 per cent FDI under automatic route for coal mining, activities including associated processing infrastructure will attract international players to create an efficient and competitive coal market,” he said.
The minister opined that manufacturing through contract contributes equally to the objective of ‘Make in India’. “FDI being permitted under the automatic route in contract manufacturing will be a “big boost” to the manufacturing sector in India,” he observed. He said the government is committed to the national security. “Scrapping 370 is the result of strong nationalist policy of Prime Minister Narendra Modi and Home Minister Amit Shah. Removal of 370 will clear the way for solving 370 problems of Jammu, Kashmir, Ladakh and will ensure over-all development of the region,” he added.