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India became a strong power under Modi regime, says former union minister UV Krishnam Raju
The no-trust motion moved by the Telugu Desam Party against the Modi government was defeated on the floor of the Parliament. Prime Minister Modi gave adequate response to the questions posed in connection with the allegations levelled by the opposition parties during the discussion on the no-confidence motion.

A day after that "merinews.com" contacted former union minister UV Krishnam Raju for his views on Modi administration. We are giving the highlights of his exclusive interview, in the form of an article for our readers.

Once former British premier Winston Churchill, while making caustic comments about India, had said that "Indians need to remain as the ruled, but are unfit to be rulers". He further warned their house that India will be bankrupt and the countrymen face deaths due to starvation in case freedom was granted to India. But we Indians proved every word uttered by him to be absolutely wrong.

And now, India under the efficient leadership of Prime Minister Narendra Modi, who is comparable to Baahubali, has been successful in achieving first place in many sectors just in a short span of time of four years making the country a force to reckon with at the global level.

A report released by International Monetary Fund (IMF) on global economic situation on June 15 gave accolades to the policies being initiated by the Prime Minister. India is now the world's sixth largest economy, up from its previous seventh rank, the report said. In 2014, our country was at ninth place after America, China, Japan, Germany, Britain, France, Brazil, Italy in the list of the top economies of the world. India is the only country which has made this stupendous growth in a record time, the report added.

The World Economic Outlook (WEO) released a report in the first week of July stating that India whose GDP growth rate at present is 7.3 per cent which is highest at global level, will be hopefully 7.79 per cent in 2019, 7.92 in 2020, 8.08 per cent in 2021 and 8.15 per cent in 2022 and it is estimated that the country would occupy the fourth place after the US, China and Japan.

India is credited with yet another achievement. The country ranks third after US and China amongst the largest economies, determined on the basis of the monetary values and the country's Purchasing Power Parity (PPP) in spite of its sixth position GDP-wise.

In a recent report of the International Monetary Fund (IMF), the GDP-based per capita income in India in 2017 was Rs 4,34,850 ($6690). By March 2018, it rose to Rs 4,66,000 ($7170). The report goes on to say that the GDP-based per capita income of each Indian citizen jumped to Rs 31,150. The World Economic Outlook (WEO) in its report revealed that the per capita income did not rise at this pace in any other country.

In the last four years, India gained 20 points in the World Economic Forum's (WEFR) Global Competitiveness rankings, while China's ranking remained roughly the same. According to WEFR, India which braved many odds in the recent four years secured an incredible 40th rank in 2018 from its earlier 60th in 2014. The WEFR praised the achievement to be a wonderful success because India overtook twenty countries in a record time. This credit goes to Modi ji alone.

Some intellectuals are trying to belittle Modi's performance by comparing India with China. The point to be remembered in this regard is that India's GDP growth rate is picking up while that of our border country is lowering. If you compare the current year's GDP growth of India (7.3 per cent) with that of China (6.3 per cent), it is one per cent more.

Furthermore, IMF's managing director Christine Lagarde has remarked that since the Chinese economy is mainly dependent on borrowings, itis alarming for the country's economic health. She further said that, of the total loans of different nations of the world worth Rs 164 trillion dollars, China's share alone is 15 per cent. Over 40 per cent of loans borrowed after 2007 were by China alone. India's borrowings comfortably stand at 1.4 per cent. Forbes magazine which publishes reliable business news and financial information disclosed that about 82 trillion dollars worth of loans were being held by three countries – United States, China and Japan – where as India was a moderate creditor. Moreover, the journal praised the Modi-led government for achieving growth through self-reliance.

The nation's rankings have improved during the last four-years under Modi regime. During this period, about ten crore poor people rose from the Below Poverty Line (BPL) category and assumed the Lower Middle Class (LMC) status. No other country in the world could better the economic conditions of such a large group of population in such a short time. The whopping 25 crore BPL population shrunk to 15 crore, according to the world bank survey.

The average longevity of citizens in the country has risen to 68.9 years from its earlier 68 years in the last four years. Government expenditure on welfare schemes during 2017-18 was rupees sixty four thousand crore where as it had been rupees thirty nine thousand crore in 2013-14. India is next only to China with 395 million acres of cultivable land by construction of several hydel power projects, bringing lakhs of acres of land under cultivation.

India which was once ridicules as a country of the poor, now enjoys the status of having a large number of crorepatis, standing at the third spot in this respect.

At global level, India is in 10th place in gold reserves, eighth in foreign exchange reserve fund, third in power generation and manufacturing of steel, first in mobile phone usage, second in internet connections; and last but not the least, foremost in 11 sectors including agriculture, animal husbandry and fisheries; and at the second place in 18 types of agricultural products.

Editorial NOTE: This article is categorized under Opinion Section. The views expressed in this article are solely those of the author and do not necessarily represent the views of merinews.com. In case you have a opposing view, please click here to share the same in the comments section.
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