Shri Modi said that when we got independence,1 rupee was equal to 1 dollar. When Atalji became PM,1 dollar was equal to 42 rupees and when he left, 1 dollar was equal to 44 rupees. He reminded that when we got independence after 1200 years, we had an outstanding amount worth millions to be taken from Britain. Shri Modi said that the trend of increasing imports is worrying. With increasing imports, our exports are decreasing, leading to increasing Current Account Deficit. Shri Modi observed that while India had become a large consumer market for Global Corporations it has now become a less attractive Investment destination as foreign investors have lost faith. Pointing out how India imports heavily electronic goods, Shri Modi called for Indian manufacturing to be competitive. Shri Modi said that our Prime Minister says money doesn’t grow on trees. But Shri Modi said he felt that money can grow in farms and factories if correct leadership is provided. He said that when he took over as CM of Gujarat, it had a revenue deficit of Rs 6700 crore, but today it is revenue surplus. He expressed lament at the fact that a country like India which was revenue surplus inspite of 1200 years of dominance, became revenue deficit now.
Posted on: Wed, 24 Jul 2013 18:30:14 +0000
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