New Delhi, Nov 29: Union Minister Rajnath Singh today said the country’s economy was revived by the Modi government and India has now become the “hot favourite” destination for foreign investors.
The Union Home minister exuded confidence that in a few years, India’s economic growth would in double digit.
Singh said a number of significant steps were taken when the Atal Bihari Vajpayee government came to power in late 1990s, due to which the GDP growth rate had touched 8 per cent and the the then prevailing global economic recession did not impact the country.
“But after 2004, even though there was growth initially, the momentum lost gradually. The country could not achieve the desired growth. They could not match the momentum achieved by the Vajpayee government. By 2014, the economic condition of the country further deteriorated.
“India has become the hot favourite destination for foreign investors. I am sure in a few years, India’s economic growth would in double digit,” he said.
Singh, however, said he would not like to claim that prices of all essential commodities have come down but asserted that prices of many goods have come down significantly.
The government has taken several significant steps and as a result not only domestic investors but foreign investors were getting confidence, Singh said.
