00:00If you look at the work done on the development front in the 11 years, the figures are totally
00:06mind-boggling.
00:07And those figures, if you compare with the previous period in 1947, you could say that
00:15these are transformational figures.
00:18But the most staggering figure, I think, comes from the fact that people living under
00:24poverty, multidimensional or abject poverty, they have been reduced by 279 million, according
00:31to the World Bank.
00:33So if you say 279 million, it's nearly satays here at highest crore of people.
00:42Also the poverty rate has come down from something like 24 percent to 5.3 percent, which is very,
00:49very remarkable.
00:50Now the size of the economy has doubled.
00:52It has gone from a 2 trillion dollar economy to a 4.3 trillion dollar economy.
00:57But what is noteworthy, and there are two features, I think, which are particularly noteworthy.
01:02One is that we are growing at a much faster rate than the countries we have overtaken and
01:06the countries we are competing with.
01:08For instance, UK and Japan, which we overtook to become the fifth and fourth largest economy,
01:12they're not growing at 6.5 percent rate, which we are growing.
01:16They're growing at around 2 percent.
01:18So Germany, which we have to compete with in terms of growth, that is also growing only
01:22at that 2-3 percent.
01:24Whereas we are growing at 6.5 percent, last quarter was 7.4 percent.
01:29Now, a lot of economists will say to reach the Vixit-Marit status, we have to grow by 8 percent.
01:34Maybe we need to accelerate more.
01:36But you know what, people don't realize that if you keep growing at 6.5 percent, 7 percent
01:41over a period of time, every five years the economy doubles and so on.
01:45So I'm not too worried about that.
01:47I think we are the journey towards a Vixit Bharat.
01:50Some solid foundations are being laid, and in the remainder of the Modi 3.0, we'll be able
01:56to lay a firm foundation to being a Vixit Bharat by 2047.
Comments