Prime Minister Narendra Modi, during an exclusive discussion with India Today's Chairperson and Editor-in-Chief Aroon Purie, Vice Chairperson Kalli Purie, and Group Editorial Director (Publishing) Raj Chengappa, highlighted India's impressive ability to maintain control over inflation despite substantial challenges and global turmoil.
Addressing the concerns raised by the Opposition regarding job scarcity and the rising inflation rate, PM Modi emphasized the significance of examining factual data rather than dwelling on accusations. Despite facing unprecedented challenges such as the ongoing pandemic and global conflicts that disrupted supply chains and induced economic downturns worldwide, India exhibited an exceptional level of resilience.
PM Modi underscored the enormity of the odds faced, encompassing global crises, supply chain disruptions, and geopolitical tensions that directly impacted the pricing of essential commodities. He emphasized that despite these obstacles, India managed to maintain an average inflation rate of 5.1 per cent from 2014-15 to 2023-24 (as of November). This figure notably contrasts with the higher 8.2 per cent inflation experienced during the preceding decade from 2004 to 2014.
According to the Ministry of Statistics & Programme Implementation's latest data, India recorded a retail inflation rate of 5.55 per cent in November, following a decrease to 4.8 per cent in October, aligning within the acceptable range of 2-6 per cent set by the Reserve Bank of India.
Responding to criticisms regarding job scarcity, PM Modi highlighted the government's unwavering commitment to generating employment opportunities for the youth. He emphasized the significant impact of infrastructure investments on fostering growth and employment, highlighting the substantial increase in the capital investment outlay from Rs 1.9 lakh crore in 2013-14 to Rs 10 lakh crore in the budget of 2023-24. PM Modi stressed the need to enlighten the public about the productivity of this expenditure and its role in creating numerous opportunities for the common populace.
Additionally, PM Modi asserted that infrastructure development is progressing at an unprecedented pace, with all sectors surpassing their performance compared to a decade ago.
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