India fastest developing among larger economies: Modi

Prime Minister Narendra Modi on Sunday said India is the fastest developing country among the larger economies of the world.

"When most of the world powers are in doldrums, everyone is looking up to us who are developing at the fastest pace. India is the fastest growing among the larger economies," Modi said.

"We are committed towards development and have focused our energies to get our poverty-ridden people out of this mess," he said at an event organised by D.A.V. group of colleges and schools here.

He said the central government's policies and programmes, such as Skill India, Start up India, Stand up India, Digital India and Mudra scheme of loans, have contributed immensely to the development of the country.

The prime minister claimed that the government has already disbursed over Rs.one lakh crore in loans to more than two crore families under the Mudra scheme.

The Mudra scheme is a micro-finance initiative under which loans are provided to small and medium entrepreneurs without bank guarantee.