Rajnath hopes nation makes progress from 'Make in India' to 'Made in India'

Highlighting the initiatives taken by Prime Minister Narendra Modi-led government to boost the country's economic growth, Union Home Minister Rajnath Singh on Sunday said that he would like to see the nation make progress from 'Make in India' to 'Made in India'.

"India is the fastest growing economy with a growth rate of 5.2 percent. This government during former prime minister Atal Bihari Vajpayee's tenure had made heavy investments, which had boosted the country's growth rate to 8.4 percent. The same government is again taking the right monetary decisions. Take for example, the Black Money bill," he added.

Singh further said the fake currency hoarding in other countries is creating a threat for India.

"I believe right policy making will make the growth rate increase by at least 10 percent in the remaining four years of governance. This is why Prime Minister Modi has launched the 'Make in India' scheme, which will attract both domestic and foreign investors and create a manufacturing revolution in the country. The world will talk of the super quality product that India is producing through foreign funding. I want to see this nation make a progress from 'Make in India' to 'Made in India'," he added.

The Home Minister said that the banks should become the lifeline of an economy.

"Banks are, it is said, the backbone of an economy. But I want to look at the banks as the lifeline of an economy. I am not an expert of economics. But in my political tenure, I have been able to grasp our economic system and the way the Indian economy functions. In simple words, I can tell you that in order to improve the financial structure of this country, a few very important decisions have been taken by the successive governments," said Singh.

"But the most important one has been the digitalisation of banks. Even after this digitalisation, the Indian households have not become a part of this process. Yet I would still like to show my gratitude and respect to all the workers of the banks who put in 12 to 14 hours of work daily, giving up their leaves. It is under Prime Minister's Jan Dhan Yojana that 15 crore families of the nation have been taken on board which is no small feat," he added.

Singh pointed out that 99.7 percent families are now attached with the banks.

"Social and economic security schemes like Atal Pension Yojana, Pradhan Mantri Jivan Suraksha Yojana have recorded huge success. These schemes have been praised not only by Indian financial institutions, but also the Indian Monetary Fund (IMF). These schemes have also reached the Guinness Book of World Records," he added.

The Home Minister had earlier in May launched three social security schemes 'Pradhan Mantri Suraksha Bima Yojana', 'Pradhan Mantri Jeevan Jyoti Bima Yojana' and 'Atal Pension Yojana' in 115 venues across the country.