New Delhi: Union Minister of State Rajeev Chandrasekhar while reacting to the Morgan Stanley report hailed PM Modi’s governance in the last nine years. He said on Wednesday that India is very different from the corruption-filled decade of Congress.
Addressing a news agency, Chandrasekhar said that despite the consequences of post-Covid settings and conflicts with Europe, the Indian economy has shown unprecedented growth and expansion because of the PM’s efforts.
The Minister said that, “We are the fastest growing economy in the world now. The lost decade from 2004 – 14 was beset with 14 quarters of runaway inflation and 12 quarters of decline in growth and industrial production leading to a collapse of the financial sector and economy.”
The Minister also used this opportunity to highlight the faults of the Cong-led government. He detailed how the banking industry was underperforming due to unethical practises and how several frauds occurred, causing many foreign investors to flee the nation.
He went on to say that the PM should be acknowledged for his efforts in methodically rebuilding the economy and repositioning India from the 11th to the 5th largest economy.
Morgan Stanley is a US-based multinational investment bank and financial services company that released a report on India titled ‘India Equity Strategy and Economics: How India has Transformed in less than a Decade’ which states how India has transformed its economy in the last 10 years.
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