Prime Minister says India to become third-largest economy very soon

Prime Minister Narendra Modi has stated that India is going to become the third-largest economy in the world very soon. Experts are saying that Bharat?s contribution to global growth will soon be nearly 20 percent. This growth, this resilience that we are seeing in Bharat?s economy, is the result of the macro-economic stability that has come to the country in the past decade. Today, our fiscal deficit is estimated to reduce to 4.4 percent. And this is when we have faced such a massive crisis like COVID. Today, our companies are raising record funds from the capital markets. Today, our banks are stronger than ever before. Inflation is very low and interest rates are low. Our current account deficit is under control. Our forex reserves are also very strong. Not only this, every month, millions of domestic investors are putting thousands of crores into the market through SIPs (Systematic Investment Plans). He noted that the fundamentals of an economy are strong.

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