March 23, 2023

Many economic indicators better than pre-Covid phase: PM | India News – Times of India

NEW DELHI: PM Modi on Saturday said that though the country has challenges before it due to Covid-19, it won’t put a brake on the speed of the ongoing economic progress, and promised measures to speed it up further in the new year.
“We will have to further speed it (economic recovery) up in 2022,” said Modi while noting that the growth rate of India’s economy is more than 8% and the country has reported record foreign investment. His comments came as he released the 10th instalment of financial benefit, amounting to Rs 20,946 crore, to over 10 crore landholder farmer families, including 2.3 crore from Uttar Pradesh, under the Centre’s flagship income support scheme (called PM-Kisan), and equity grant of more than Rs 14 crore to 351 Farmer Producer Organisations (FPOs) which will benefit more than 1.2 lakh farmers.
Addressing farmers on the New Year’s Day, the PM said, “Many economic indicators are looking better than the pre-Covid19 phase… Our forex reserves have reached record levels. Old recor-ds have also been surpassed in GST collection. We have also set new records in the matter of exports, especially in agriculture.” He noted that 10,000 out of more than 50,000 start-ups, currently working in India, came up during the last six months.
He also virtually interacted with FPOs of different states on the occasion and noted how the collective strength of farmers through these organisations would increase bargaining power, scale, innovation, risk management and adaptability to the market conditions. “Today our farmers are benefitting from the schemes like ‘One District One Product’ and markets, both nation and global, are opening up for them,” the PM said.
The PM also recalled India’s effort in fighting the pandemic, initiating vaccination and making arrangements for the vulnerable sections.

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