PM Modi says fundamentals of Indian economy strong, has capacity to bounce back

Unfazed by projections of GDP growth slowing to an 11-year low in the current fiscal, Prime Minister Narendra Modi on Thursday said fundamentals of the Indian economy are strong and it has the capacity to bounce back.

Modi, who seems to have taken charge of the efforts to revive the economy, has over the past few days held as many as 12 brainstorming meetings with different stakeholders over various issues affecting the economy and to thrash out appropriate policy interventions in the upcoming Budget.

The Prime Minister met economists, private equity and venture capitalists, business leaders and agri experts on Thursday at Niti Aayog, and called for focussed efforts from all stakeholders to achieve the target of nearly doubling the size of the Indian economy to USD 5 trillion by 2024.

After the meeting, Modi tweeted: "Unwavering in our commitment to become a five trillion dollar economy!"
In a tweet, Niti Aayog Vice Chairman Rajiv Kumar said the meeting "discussed a wide range of issues relating to economic growth, startups & innovation."