PM Modi lauds Centre's reform measures; asserts 'Furthered India's Ease of Doing Business'

Prime Minister Narendra Modi on June 11 said that the reform measures taken by his government over the last eight years including the removal of outdated laws have improved India's "Ease of Doing Business".

Taking to his Twitter on Saturday, June 11, PM Modi said, "Guided by the principle of ‘Reform, Perform and Transform’ the Government of India has brought in several reforms which have furthered ‘Ease of Doing Business.’ At the same time, many outdated laws which slowed growth have been removed." With his tweet, PM Modi also shared a MyGov Twitter thread and articles from the Prime Minister's official website where details of the major reforms taken by his government in the last eight years have been listed. 

As per the Twitter threads shared by PM Modi, India continues to remain the fastest-growing economy amongst the major economies across the world in 2022, with a GDP growth rate of 8.2 per cent. It also says that India made a historic record of $254 billion worth of exports in the service industry and in the goods sector, India made a record-breaking $421 billion worth of exports.

"India has been able to give impetus to a digital revolution that is benefiting every citizen. With the increase in UPI transaction value, India accounts for 40% of the digital transactions taking place across the globe," one of the tweets from the MyGov tweet thread read.

It is pertinent to mention that after BJP came into power at the Centre in 2014, India has been seeing significant improvement in the Ease of Doing Business parameters. From 142nd position in 2014 in the Ease of Doing Business ranking, India jumped to 63rd position in 2020.

India's economy rebounded strongly despite facing 3 major COVID-19 waves: US

Amid the attempts of the Central government to bring the Indian economy out of the pandemic-induced slowdown, the US Treasury on June 10 said that the country's economy has rebounded strongly despite facing three significant COVID-19 waves.

Speaking about India's growth and the impact of COVID-19 pandemic waves, in its recent report to US Congress, the Treasury Department said that India's acute second wave weighed heavily on growth through the middle of 2021, delaying its economic recovery. "However, economic activity rebounded strongly in the second half of the year as India's vaccination rollout accelerated," the US Treasury said in its report as it praised India's vaccination efforts. 

At the end of 2021, about 44% of India's population was fully vaccinated against the COVID-19 virus, the report said, further adding that after contracting 7% in 2020, the economic output of the country returned to pre-pandemic levels by the second quarter of 2021, with full-year 2021 growth of 8%.

Image: PTI