India Will Be The Third-Largest Economy In My Third Term: PM Modi Says In Lok Sabha

"India was the 11th largest economy in 2014. Today, India is the 5th largest economy and yet they (Congress) are silent..." PM Modi said in the Lok Sabha

PM Modi in his speech noted the construction of 4 crore houses for the poor, including 80 lakh pucca houses for urban dwellers, achieved at an unprecedented pace.

Prime Minister Narendra Modi on Monday in the Lok Sabha said that India will be the third largest economic power in the third term of the NDA government. Responding to the debate on the Motion of Thanks on President's Address in Parliament, Modi quoted from 2014 interim Budget and said, "India was the 11th largest economy in 2014. Today, India is the 5th largest economy and yet they (Congress) are silent...They had even lost the ability to dream...It is Modi’s guarantee that in our third term, India will be the third largest economic power..."

Prime Minister Narendra Modi, reflecting on a decade of governance, expressed optimism about India's economic trajectory during his recent address. Citing India's robust economy and rapid advancement, Modi, said, "Looking at today's strong economy and the rapid speed with which India is progressing today, I can confidently say that in our third term, India will be the third-largest economic power. This is Modi's guarantee."

#WATCH | PM Modi quotes from 2014 interim Budget says, "India was the 11th largest economy in 2014. Today, India is the 5th largest economy and yet they (Congress) are silent...They had even lost the ability to dream...It is Modi’s guarantee that in our third term, India will be… pic.twitter.com/emiz8hv9LW

— ANI (@ANI) February 5, 2024

Emphasising the Bharatiya Janata Party (BJP) government's accomplishments over the past decade, Modi highlighted significant achievements in housing for the underprivileged. He noted the construction of 4 crore houses for the poor, including 80 lakh pucca houses for urban dwellers, achieved at an unprecedented pace. Comparing the BJP's efficiency to historical benchmarks, Modi asserted that such progress would have taken a century under previous administrations, specifically targeting the Congress party.

"Speaking on the BJP government's work in the last decade, we built 4 crore houses for the poor. For the urban poor, we built 80 lakh pucca houses. Had these been built at the speed of Congress...it would have taken 100 years to do this work. Five generations would have passed by then," remarked PM Modi.

In his critique of the Congress party, Modi pointed to historical trends linking their governance with inflationary pressures. Drawing attention to the double-digit inflation during the UPA regime, Modi attributed the phenomenon to what he termed as the Congress' insensitivity towards economic challenges. "History is witness that when Congress comes to power it brings inflation," Modi stated. "What was their government's logic? Insensitivity. They said - you can have expensive ice creams but why do you cry about inflation? Whenever Congress came to power, it strengthened inflation."

The prime minister's remarks underscored his administration's vision for economic prosperity and served as a platform to contrast the BJP's governance with the policies of its political opponents. He also said that some Opposition leaders were keen to change their parliamentary seats, while some others were planning to move to Rajya Sabha.