Strong economy is backbone of any society: Rajnath

Union Home Minister Rajnath Singh on Mopnday said that a "strong economy" is the backbone of any society and Uttarakhand was created to give fillip to economic development in backward regions.

"A strong economy is the backbone of any society and with this fact in mind the state of Uttarakhand was created to give the backward regions of the state," Rajnath Singh said while addressing the concluding session of a two-day Uttarakhand Investors' Summit here.

He also congratulated Chief Minister Trivendra SIngh Rawat for successfully organising the first such summit.

The Home Minister said the presence of a stable government in the Centre and in Uttarakhand had led to "increased possibilities of development".

Rajnath Singh said that Uttarakhand was an ideal destination for investment. "The scope of tourism, health and wellness industry was immense in the state."

He also mentioned that the Home Ministry had worked out modalities to grant security clearance to set up business within 60 days.

He said that India was now one of the fastest growing economies in the world despite challenging global environment. "This along with a credible government and structural reforms has led to preparation of groundwork for the New India of 2022."

Speaking earlier, Rawat said the pledges for investment had exceeded expectations and in more than 600 MoUs signed so far an amount of Rs 120,150 crore had been pledged.

--IANS

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