On Saturday, Union Minister Jyotiraditya Scindia addressed a press conference where he discussed the government’s significant infrastructure investments over the past year and the provisions outlined in the recently presented Union Budget.
Scindia emphasized the Modi government’s commitment to developing infrastructure and making India self-reliant by 2047, positioning the nation as a global leader.
Scindia Highlights Infrastructure Investment And Progress
Jyotiraditya Scindia pointed out that the current government has allocated Rs 11 trillion towards infrastructure development in the last year alone, a stark contrast to the Congress-led UPA government’s annual expenditure.
In terms of transportation, the Minister highlighted the laying of 2,031 km of new railway lines and the construction of 6,000 km of national highways. Additionally, the government has expanded telecom connectivity by installing towers in 10,700 villages across the country.
Scindia Focuses On Growth In Telecom And Manufacturing Sectors
Scindia also noted significant strides in the telecom sector, where the government has helped establish an environment for increased manufacturing.
He stated that while 90% of phones in India used to be imported, 90% of phones are now manufactured domestically. The minister also mentioned that phone units worth Rs 1.28 trillion are now being exported, marking a significant shift in India’s manufacturing capabilities.
Economic Growth And Financial Stability
In terms of economic performance, Scindia highlighted India’s growth rate of 6.5%, which is much higher than the global growth rate of 3.2%. He also addressed the issue of non-performing assets (NPAs) left behind by the previous Congress-led government. Scindia praised the current government’s efforts in reducing the NPA ratio from 11.5% in 2014 to 2.6% today, improving the financial condition of the country.
He also emphasized India’s foreign trade achievements, with exports reaching $600 billion and foreign exchange reserves standing at $705 billion, positioning India as the fourth-largest holder of foreign exchange reserves globally.
Agriculture Sector And Regional Contributions
Scindia highlighted that India’s agriculture sector has grown by 3.5%, with Madhya Pradesh contributing the highest at a growth rate of 6.5%.
The Union Minister set an ambitious target for India, stating that the country aims to become the third-largest economy by 2027, surpassing Germany and Japan within the next two years. He further added that India is on track to become a $5 trillion economy by 2028 and a $6 trillion economy by 2030.
Scindia Discusses Reforming the Postal System & Expanding Connectivity
Scindia also discussed the modernization of the Indian Postal Department, which operates 1.64 lakh post offices and employs four lakh postmen.
The government will convert these post offices into logistics centers, offering services such as parcel delivery and e-commerce. It is also expanding digital connectivity by linking 2.45 lakh gram panchayats through BharatNet.
Currently, the government has connected 2.12 lakh gram panchayats, and it will link the remaining panchayats soon. The government has allocated Rs 1.39 trillion for this ambitious project.
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