IN SHORTPrime Minister Narendra Modi strongly defended India’s 7.8% GDP growth in the April-June quarter, hitting back at critics during the SRCC centenary celebrations. He contrasted India’s current status as the world’s fastest-growing major economy with its ‘Fragile Five’ past, accusing opponents of being unable to accept the nation’s progress and dismissing their pessimism. Modi highlighted achievements like Jan Dhan Yojana and ‘Made in India’ initiatives.
Prime Minister Narendra Modi defended India’s 7.8% GDP growth in the April-June quarter during his address at the SRCC centenary celebrations.He criticized opponents, whom he accused of pushing India into the ‘Fragile Five’ in 2013, for being unable to accept its current status as the world’s fastest-growing major economy.Modi revisited his ‘half-filled glass’ analogy, stating that critics remain perpetually pessimistic about India’s progress.The Prime Minister highlighted significant economic improvements since 2013, including the success of the Pradhan Mantri Jan Dhan Yojana and the ‘Made in India’ initiative, citing mobile phone exports worth over Rs 2.5 lakh crore.He accused critics of opposing major government initiatives and habitually questioning the country’s progress, labeling some as ‘Dimagi Naxals’ and ‘Naraz Fufa’.
TL;DR
- <h2>PM Modi Defends India’s Economic Surge, Slams Critics at SRCC Centenary</h2><p>Prime Minister Narendra Modi on Saturday launched a strong defense of India’s latest GDP figures, asserting that those responsible for the nation’s past inclusion in the ‘Fragile Five’ are now struggling to accept its emergence as the world’s fastest-growing major economy. Speaking at the centenary celebrations of Shri Ram College of Commerce (SRCC) in Delhi, PM Modi cited India’s robust 7.8 per cent growth in the April-June quarter as clear evidence of the economy’s resilience amidst global geopolitical tensions and trade disruptions.</p><blockquote>The 7.8 per cent quarterly growth has boosted the country’s confidence. Those who became infamous for pushing India into the ‘Fragile Five’ are finding these figures difficult to digest.</blockquote><p>His remarks come amid ongoing debate surrounding the latest GDP numbers, with the Opposition questioning the figures and economists offering varied perspectives on the revised data and methodology. Returning to SRCC 13 years after his notable 2013 address, PM Modi revived his ‘half-filled glass’ analogy to target those he accused of persistent pessimism regarding India’s trajectory. He stated that those who viewed the glass as half empty in 2013 continue to hold the same perspective today.</p><p>Presenting his address as a ‘report card’ since 2013, Modi took an apparent swipe at critics, declaring, “The echo of lies cannot stand before the roar of truth.” He recalled the challenging economic climate of 2013, characterized by a weak rupee, nearly 10 per cent inflation, a record current account deficit, slowing industrial growth, widespread corruption allegations, and what he termed ‘policy paralysis’. At that time, India was counted among the ‘Fragile Five’, a group of emerging economies vulnerable to global financial shocks.</p><p>“The world was calling India one of the ‘Fragile Five’. Today, the world is watching India become the fastest-growing major economy,” PM Modi emphasized. He highlighted that the latest growth figures underscore India’s economic strength despite global challenges, adding that “India is not only growing, it is also creating new employment opportunities.”</p><p>The Prime Minister also showcased the Pradhan Mantri Jan Dhan Yojana as a testament to his government’s commitment to financial inclusion. He noted that nearly 60 crore bank accounts have been opened over the past 12 years, integrating poor and previously excluded sections into the formal banking system. Modi accused his critics of opposing financial inclusion, alleging they preferred citizens to remain dependent on a ‘mai-baap’ culture for basic services. “This is Modi. He stands like a rock in front of those who favour the ‘mai-baap’ culture,” he asserted.</p><p>PM Modi linked the expansion of banking access to his concept of “P2G2” – pro-people, good governance – a principle he outlined in his 2013 SRCC address. He stated that his government has shifted from reactive problem-solving to proactive planning and direct service delivery. Revisiting his 2013 manufacturing pitch, PM Modi recalled that his call for ‘Made in India’ was dismissed as unrealistic then. “When I said that we needed to work towards ‘Made in India’, people from the ecosystem of that time simply could not understand it,” he said, contrasting it with today’s brand value of Make in India and mobile phone exports exceeding Rs 2.5 lakh crore, up from significant imports in 2014.</p><p>Broadening his critique, PM Modi accused opponents of habitually questioning the country’s progress and opposing major government initiatives. He claimed critics had repeatedly anticipated crises, including the Covid pandemic and global conflicts, to weaken India and his administration, yet the country continued to advance. Referring to his Independence Day address, PM Modi described some ideological critics as “Dimagi Naxals” and compared habitual opponents of government projects to a “Naraz Fufa,” a perpetually disgruntled relative. He cited initiatives like UPI, high-speed rail, the Statue of Unity, and the new Parliament building as projects whose necessity had been repeatedly questioned by these critics.</p>
