On economy, the PM said India’s growth rate, despite the uncertainties in the world, was 7.5 per cent in the last five years, which he said was unprecedented for any government that has completed its tenure. He said it is the first time that such growth was achieved along with low fiscal deficit and low inflation. He said India is a now a favoured FDI destination, and elaborated on recent decisions to open up FDI in several sectors, including mining.
The PM said energy sectors CEOs, whom he met on Saturday, told him they were encouraged by the cuts in corporate tax. “Their feedback is that the cut in corporate tax has sent a positive message not just in India but among global business leaders. This decision will make India a competitive destination for business,” Modi said.