India moving forward at fast pace, says PM in Rajya Sabha as Oppn walks out

Speaking in the Rajya Sabha on Thursday, Prime Minister Narendra Modi said the country was moving in the right direction.

Prime Minister Narendra Modi on Thursday replied to the Motion of Thanks to the President’s Address in the Rajya Sabha. PM Modi said the country was moving in the right direction.

 

He said, “In the journey of Viksit Bharat, the previous years have been years of rapid development for the country. This has been an era of change in every walk of life and in every section of society. The country is moving ahead in the right direction at a fast pace.”

 

Amid ruckus from the Opposition, he further added, “I express my gratitude for the President’s address.”

 

 

As Congress staged a walkout, PM said India has been on a path of development over the past few years and that transformation in the right direction has been the government’s focus.

 

The Opposition, led by Congress, walked out of the House shortly after the Prime Minister began speaking.

 

Taking a jibe at the previous Congress-led government, PM said his NDA government inherited an economy which was in Fragile 5. He said, “When we started, we used to be counted among the ‘Fragile Five’. Now we have overcome that,” PM Modi said, adding, “Today we are emerging with confidence across sectors.”

 

“The world is moving towards a new global order,” PM Modi said. “After the Second World War, a new order had emerged, and today another has emerged, where the tilt is towards India. India has emerged as a reliable partner for many countries, being a Vishwamitra. India has emerged as a leader of the Global South.”

 

“India today is future-ready,” PM Modi said, adding, “We have nine trade deals with major countries, and among them is the ‘mother of all deals’, the India–EU FTA.”

 

Attacking the Opposition, the Prime Minister said, “Today they have walked out of the House, but they will have to answer what they did to India’s reputation, when countries hesitated to come to India for trade deals.”

 

“When I was the Chief Minister of Gujarat, I used to organise the Vibrant Gujarat Summit. At that time, Japan was a developed country. Today, my country is on a path to demonstrate its strength and has now surpassed it,” PM Modi said.

 

“Today the country is working to frame future-ready policies,” Modi said, adding, “We have carried out structural reforms and several other reforms. Today I can say we are ready to compete with the world.” 

“The world is praising India’s trade deals,” said PM Modi, adding, “After securing a trade deal with the United States, the world is now assured of India’s growth as well.”

 

“Now there are numerous opportunities for the youth of the country,” PM Modi said.

PM Modi slams Opposition

Taking a veiled jibe at Rahul Gandhi, he said, “I was listening to a member of this Parliament who takes pride in calling himself a ‘raja’, and he was talking about economic instability.”

 

Aiming at the Trinamool Congress, PM Modi said, “The world’s wealthiest countries are making efforts to deport immigrants, but people in our country are making efforts to save them.”

We did reforms in the banking sector: PM Modi

“The banking sector is the backbone of the economy. Prior to 2014, it operated on phone calls. Poor people were ridiculed, while banks extended loans on calls from Congress leaders, and that money went into personal wealth,” said PM Modi, adding, “People used to worry about NPAs (non-performing assets) all the time. We carried out a series of banking reforms to correct that system through mergers and other measures.”

 

“We brought down net NPA to below 1 per cent,” PM Modi said.

 

“After these reforms, poor people benefitted. Those who had no access to banks could benefit. One example is the Mudra Yojana. We provided over ₹3 trillion in loans without guarantee through that scheme, and notably, women were among them,” he said.