Prime Minister Narendra Modi said that India is the 5th largest economy and soon to become the third largest global economy on Tuesday, July 30. Addressing the inaugural session of ‘Journey Towards Viksit Bharat, Union Budget 2024-25 conference, PM said, "Today, we are discussing 'Journey towards Viksit Bharat'. This change is not just of the sentiments, but of confidence. Today, India is the 5th largest economy in the world and soon it will be the 3rd."
PM Narendra Modi also stated that before 2014, BJP has presented the details of the economy in front of the country. "Everyone is aware of the situation of fragile five and scams of lakhs crores before 2014... We presented the details of the economy in front of the nation in the form of White Paper... It should be debated where we stood. We released the industries of India and brought them to the height," he added.
During the ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference’, Union finance minister Nirmala Sitharaman was also present. PM said capital expenditure of UPA government increased to Rs 2 lakh crores from Rs 90,000 crore.
"Capital expenditure is called the biggest productive medium of resource investment... In 2004, in the first budget of the UPA government, Capital expenditure was around Rs. 90,000 crore. It increased to Rs. 2 lakh crores... And today, the CapEx is more than Rs. 11 lakh crores," PM Modi said.
"During the pandemic, we used to have discussions and the centre point of those discussions used to be 'getting growth back'. I said then that India will run on the path of development very soon. Today, India is growing at the speed of 8%," he added.