Saturday, August 8, 2020
Home Uncategorized India can achieve 8 per cent GDP growth, says President

India can achieve 8 per cent GDP growth, says President

Kolkata: Stating the nation could achieve an eight percent GDP growth, President Pranab Mukherjee on Saturday lauded the  Narendra Modi government’s initiatives including Digital India, Make in India and Swachh Bharat which made India a lucrative investment destination.

“The political stability and government’s new initiatives like Swachh Bharat, Make in India, Digital India, Skill India, made India an attractive investment destination in the eyes of various countries,” said Mukherjee, while inaugurating the 185th Anniversary Celebrations of Calcutta Chamber of Commerce.

Mukherjee also said that a period of high growth, particularly in the middle years of last decade fuelled the augmentation of country’s GDP growth.

“Though in 2012-13 the country could only manage a growth less than five per cent, our economic growth in all the other years has not been less than 6.6 per cent. The country did have good years of growth in the past record, despite the fact that protracted global economic slowdown had affected the growth performance of all the major economies”, he claimed.

Mukherjee said, ”an invigorate manufacturing sector will further pave the way for bettering the economic performance.”

During the years 2005-06 to 2007-08 our economy grew by more than nine percent which was followed by the increment of exports in excess by 20 per cent.

Though exports have come down in the last three years, the decline in oil prices has also caused a diminution of the import bill, he said.

This had further assisted in keeping the current deficit at a tractable level of 1.4 per cent last year. The country was holding up its foreign exchange reserves at a comfortable level i.e. $353 billion as per the end of October.

“An integrated effort in this direction will surely help India to procure an eight percent GDP growth rate” he added.

(With inputs from agencies)

STAY CONNECTED

18,959FansLike
362FollowersFollow
1,781FollowersFollow

Most Popular

Cybercriminals Prefer Misuse of Authentic Software During Attacks, Says Report

Cybercriminals widely use software developed for normal user activity, administrative tasks, and system diagnostics to avoid getting caught quickly after carrying out their attacks,...

Puerperal Period Fitness For New Mothers

Exercise, along with a balanced diet, is an essential part of a healthy lifestyle. Light to moderate physical activity is safe and beneficial for...

Rehabilitation Of World Heritage Site In Mali

The UN's culture organization UNESCO will support a three-year project in African country Mali's Bandiagara that aims to rehabilitate damaged architectural heritage, notably housing,...

People Who Experience Dizziness on Standing Up May be at Higher Risk of Dementia

Researchers have found that people who feel dizzy or lightheaded when they stand up may have an increased risk of developing dementia. The condition, called...

Major Goal is to Identify Planets that Could Support Life: NASA

As scientists search for signs of life on planets outside our solar system, astronomers using NASA's Hubble Space Telescope have detected Earth's own brand...

Need to Adapt to Changing Customer Behaviour: McDonald’s

By Siddhi Jain As India moves forward in the Unlock phases, there is a need to adapt to changing customer behaviour and align business operations...

Vitamin D, Calcium Consumption Twice a Day may Reduce Chances of Getting Vertigo Again

Researchers have revealed that taking vitamin D and calcium twice a day may reduce your chances of getting vertigo again - a sudden internal...

Stock Up Your Monsoon Pantry With These Common Ingredients

By Puja Gupta The monsoon season is possibly every Indians favourite season! Well it is certainly infamous for one's cravings for all-things-fried, along with a...

Recent Comments