India alone growing at rapid pace: PM

Prime Minister Narendra Modi has said 20 mn people have benefited from the MUDRA Yojana and about Rs 1 lakh cr has been disbursed so far

Rejecting the Opposition's criticism about the state of the economy, Prime Minister Narendra Modi on Sunday said as the world was grappling with financial crisis, India alone was "progressing at a rapid pace" because of the policies of his government.

“Everyone is saying this... the World Bank, the IMF (International Monetary Fund). The world is going through an economic crisis, but it is India alone that is progressing at a rapid pace. This is a unique situation,” Modi said.

“People across the world are saying that the steps taken by the government have led to India becoming the fastest growing economy among the larger economies of the world,” he said.

He was speaking at an event to celebrate the birth anniversary of Swami Dayanand Sarawati, the founder of the social reform movement Arya Samaj.

Modi's assertion came on a day when Former Union minister and deputy leader of the Congress in the Rajya Sabha Anand Sharma said Congress would demand a white paper on the economy in view of the "boastful claims" of the Prime Minister in the Budget session of Parliament beginning February 23. Listing out several “pro-people” schemes launched by his government, the Prime Minister referred to the Skill India initiative and MUDRA Bank.

“One thing can free us from our problems, from poverty, from lack of education and that is development,” Modi said.

“About 20 million people have benefited from MUDRA Yojana and about Rs 1 lakh crore has been disbursed to them. Financial support has been given to people and we have faith in them,” Modi said.