India moving ahead despite economic gloom: PM Modi

With economic crisis looming over global economy and experts hinting at recession, Prime Minister Narendra Modi on Saturday said that India is marching ahead on the path of economic development and serving as a 'ray of hope' to countries reeling under slowdown.

Speaking at a Kisan Rally here, the Prime Minister said that the negative effects of the global slowdown can be effectively tackled by simultaneously promoting agriculture, manufacturing and service sector.

"Everyone in the world, whether it is the IMF, World Bank or rating agencies, are saying that if there is a ray of hope then it is in India. The economic condition of the entire world is in shambles," he said.

"Even the big economies are facing economic crisis. Despite such an environment of recession, India is moving forward on the path of economic development," he added.

Prime Minister Modi said that when he took the office in May 2014, the country was reeling under economic crisis as corruption was devouring nation's economy like 'termites'.

He said that even the opposition parties, who target the government day and night, haven't accused the NDA government of corruption.

"When I took office in Delhi, the entire nation was fed up because of corruption. It has been 18 months, that you have allowed me to serve the nation. Even our Opposition, who give statements day and night, haven't accused us of corruption. They do not have the guts to even level false allegations," he said.

"The country was reeling under the economic crisis, and on top of that corruption was ruining the nation," he added.

The Prime Minister arrived in Belgaum today to address the farmers and tell them about Fasal Bima Yojana.

Elaborate security arrangements were made in the city and at the venue near Shigoan in Angadi Technical Institute College grounds, where the Prime Minister addressed the farmers.