Narendra Modi addresses India Economic Convention in Delhi(Video)

New Delhi, 27 February 2014

Gujarat Chief Minister Narendra Modi while addressing the India Economy Convention today at Delhi stressed for the need to bring qualitative change in the various aspects of development for changing the current gloomy state of Indian economy.

Mr. Modi spoke about five types of ‘deficit’ which are required to be dealt with for bringing economic change. Speaking about the present worrisome state of Indian economy Mr Modi said that India is not only suffering from current account deficit but also there are moral deficit, trust deficit, ease deficit, fiscal deficit and governance deficit. “The faith in government can rekindle our potential. But the people have lost their faith from the current union government. What is lacking is the direction, dedication and commitment”, said Mr. Modi.

He said the notion of the union leaders that ours is a poor country is not true. “Our country was once known as “sone ki chidiya” (the golden bird). The reason why so many tyrannous attacks made on our country is because India had always been a rich country. “But not only that we lost our treasure during foreign slavery, we have also lost historic opportunities in even 21st century”, he said.

“We have potential to develop most rapidly since we have three factors – democracy, demography and demand – which are our biggest strengths that other countries do not possess”, said Mr. Modi.

He added that during the regime of Atalji, India gained a place amongst BRICS countries on the onset of 21st century. “But a decade of UPA rule pushed India behind others. Now we have to march ahead on the path shown by NDA, becoming a superpower”, he said.

Mr. Modi called for a mass movement for bringing about grassroots changes in the country.

Stressing on the need of good governance Mr. Modi likened bad governance with diabetes which is taking toll of the country.

“Apart from policy, good governance also matters. Even as the country is passing through a bad phase Mr. Modi presented his views on bringing about a fundamental transformation in the country. He also spoke of the ways to eliminate absolute poverty and suggested to make optimum utilization of natural resources.

He enumerated success stories of Gujarat as a strategy for bridging the gap between the poverty and riches and the villages and cities. “Availability of power and broadband connectivity can put the villages on the track of development”, he said.

“Atalji left GDP at 8.4% but UPA reduced it to 4.8%. So we need fresh thinking for putting the country on higher growth. We’ll need to give priority to bringing qualitative changes in health and education sectors”, said Mr. Modi.

“True tribute to Mahatma Gandhi on his 150th birth anniversary will be to emphasize on cleanliness which will automatically create a healthy society”, he said.

He said that changes in education require creating good teachers. Amid a global wave of IT, he urged to focus on biotechnology and environment technology too.

He underscored the holistic growth of economy which gives equal weighyage to manufacturing, industries, agriculture and service sectors. Investment should also be expanded to agriculture, water, power and road development among other infrastructural sectors.

He also suggested mulling a well-planned strategy for the development of every state for the harmonious development of the country. He also stressed to honour the federal structure of constitution, giving importance to the states and to plan according to the every state’s natural potentials.

“Even as the trade and commerce has become the prime agenda in the country, there is a need to bring a complete change in the foreign policy along with political diplomacy”, he said.

Mr. Modi also spoke of the need to provide an encouraging atmosphere to the youths and women.

“My knowledge of economy can not even fit in a postal stamp. In fact, I know only one word about economy, that is, “Trustee”, as explained by Gandhiji”, said Mr. Modi.

“In politics, strong steps are inevitable, but such steps need to be in the interest of the country and the people. The development should be inclusive and every citizen should be equal beneficiary of the growth”, said Mr. Modi.