In a candid interview, Prime Minister Narendra Modi articulated the pressing need for financial prudence amidst the backdrop of a burgeoning global debt crisis, a concern he acknowledged to be of paramount significance, particularly for developing nations.
Speaking to the news agency PTI, PM Modi categorically underscored the deleterious consequences of “irresponsible” fiscal policies and populist measures. While such strategies might yield immediate political dividends, the premier emphasized the severe and enduring socioeconomic costs they entail.
He further elucidated that his exhortations on the imperative of fiscal discipline were not confined to the federal level but extended to the state governments as well. PM Modi, on numerous platforms, has articulated the stance that fiscal recklessness compromises the long-term stability of a nation, particularly affecting the marginalized and impoverished segments of society.
PM Modi’s observations on populist economic policies align with his party’s stance, as the Bharatiya Janata Party (BJP) has consistently opposed what it terms ‘revdi’ or ‘freebie culture’ propagated by opposition parties in the lead-up to elections.
Reflecting on the transformational changes witnessed in the country since his ascension to office in 2014, PM Modi highlighted the evolution from a landscape of political instability to one characterized by a decisive mandate, facilitating stable governance and coherent policy formulation. This trajectory, he contended, would usher India onto the path of sustained economic growth, robust inclusivity, and innovative excellence.
Prognosticating about India’s future, PM Modi reiterated his vision of the nation attaining developed status by 2047. He envisioned a future wherein poverty would be vanquished comprehensively, and India would achieve eminence in healthcare, education, and social development on a global scale. He ardently stated that pernicious societal elements such as corruption, casteism, and communalism would find no place in India’s national narrative.
In alignment with these aspirations, PM Modi affirmed India’s resurgence on the global stage, signifying its emergence as the world’s fifth-largest economy, from the tenth position within a mere decade. This remarkable ascent underpins India’s unequivocal commitment to economic progress.
PM Modi concluded his discourse by underscoring the colossal opportunity that lies ahead until 2047. He contended that the contemporary generation of Indians bears the profound responsibility of laying the groundwork for sustained prosperity, thereby etching a legacy that will reverberate for millennia.
This articulation by Prime Minister Modi assumes salience as India prepares to host the G20 Summit at Delhi’s Pragati Maidan on the 9th and 10th of September.