Advancing Asia Summit-Economic Reforms part of Govt. Agenda: PM Modi

Prime Minister Narendra Modi today in the “Advancing Asia” summit co-hosted by the International Monetary Fund (IMF) has said that even though India is the world’s fastest growing economy and at the same time is one of the most favoured destinations for business and investment, the government will continue to pursue reforms thoroughly.

• The prime minister said that his agenda for reform has not yet finished and with the growing entrepreneurial ecosystem, the country has potential to grow further. PM Modi also said that the reform of global bodies like the World Bank or the IMF must be an on-going process. India already has demanded for a grant of Rs. 69,575 crore for increasing the country’s quota in IMF with higher voting rights and the international body has decided to finalize the next round of quota changes which is to be done by October, 2017.
• PM Modi also acknowledged that despite the world is currently experiencing a meltdown, but the country still has emerged as one of the best economies at present. He also said that this century will belong to the Asian countries and India has shown to the world that democracy and economic growth can go hand in hand.
• PM Modi has also said that the central government has steady focus on rapid macro-economic stability, to remove any kind of corruption, closely working with the banks and financial institutions and lastly has put more focus on the farm and agricultural sector to address the rural stress. He further added that the government is aiming towards doubling the farmer income by bringing more investment where majority lives in.

(Source: The Hindu)