India's economic growth will soon be in double digit: Rajnath Singh

Taking a dig at the economic policies of the UPA govt, he said India has now become the 'hot favourite' destination for foreign investors

Taking a dig at the economic policies of the previous United Progressive Alliance government, Union Minister Rajnath Singh on Saturday exuded confidence that in a few years, India’s economic growth would in double digits.

Singh said a number of significant steps were taken when the Atal Bihari Vajpayee government came to power in late 1990s, due to which the GDP growth rate had touched 8 per cent.

“But after 2004, even though there was growth initially, the momentum lost gradually. The country could not achieve the desired growth. ”

The UPA government was in power between 2004 and 2014.

The home minister said that after the NDA government assumed charge in May 2014, the economy was put back on track and now the GDP growth rate is 7.5 - 7.6 per cent.

“India has become the hot favourite destination for foreign investors. I am sure in a few years, India’s economic growth would in double digit,” he added.

Singh, however, said he would not like to claim that prices of all essential commodities have come down but asserted that prices of many goods have fallen significantly.

"Our political opponents say that prices of pulses have gone up, vegetable prices have gone up. They create a hue and cry over it. But we have taken a number of steps to reduce the prices. We have imported many essential commodities so that prices are under control," he said.

Singh said Prime Minister Narendra Modi has already made it clear that the prime objective of the government was to speed up the economic engine.

The government has taken several significant steps and as a result not only domestic investors but foreign investors were getting confidence, Singh said.

"There is a sense of confidence among investors. This government means business, this government is business friendly, this government is investors friendly, a decisive government," he said.