India to Witness 6-8% Growth for the Next 5 years: Ashwini Vaishnaw Vaishnaw added that the country's growth story has happened because of public investments, manufacturing and innovation, inclusive growth, and regulatory simplifications.
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India is poised to grow at a rate of 6-8 per cent in the next five years due to the changes brought in by Prime Miniter Narendra Modi in the wake of geopolitical turmoil, said Information and Broadcasting Minister Ashwini Vaishnaw at the NDTV Indian of the Year events.
Vaishnaw added that the country's growth story has happened because of public investments, manufacturing and innovation, inclusive growth, and regulatory simplifications.
Vaishnaw said the world saw India as a ray of hope in times of global turmoil, two wars, disruption of supply chains, and the hit taken by the world economy due to the Covid-19 pandemic. The minister credited the growth to the Prime Minister's "considered thought process" and well-laid-out plans for the country's sustained economic growth.
"We can say with a very high degree of confidence that India will continue to grow at 6-8 per cent real growth, 10-14 per cent nominal growth, and a very moderate inflation for the coming five years, and this confidence is due to the change that has happened in people's lives," Vaishnaw said.
The minister also added the re-election of Prime Minister Modi can be attributed to useful policy-making, especially at a time when governments over the world are facing anti-incumbency.
The minister said the policies pursued by Modi have led to the re-election of his government for the third consecutive term at a time when world over governments are facing anti-incumbency.
"But in such a big, vibrant, and vocal democracy, people have reelected a government for the third consecutive time. This is because people have witnessed a transformative change in their lives," added Vaishnaw.
