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FM hails India Inc as job creators, sees GDP at $3 trillion this year

NEW DELHI: Hailing India Inc for their role in Indias job cr..

NEW DELHI: Hailing India Inc for their role in Indias job creation, Finance Minister Nirmala Sitharaman on Friday said Indian corporates are nation's wealth creators.

Indias GDP will hit $3 trillion mark this year alone, Sitharaman said while expecting the economy to hit a $5 trillion mark in just few years.

The FM said many people wonders whether it is possible, but insisted the target is eminently achievable, she said, given citizens' desire and the leadership of the government.

To give a lift to infrastructure, comprehensive restructuring of National Highways Programme will be done, to ensure creation of National Highways Grid of desirable capacity, Sitharaman said.

Railway infrastructure, she said, would need an investment of Rs 50 lakh crore between 2018 and 2030. For this, she suggested private public partnership (PPP) will be used to unleash faster development and delivery of passenger freight services.

Government envisions using rivers for cargo transportation, which will also decongest roads and railways, she said.

Sitharaman said 657 km of metro rail network has become operational in the country. She noted that India's first indigenous payment ecosystem for transport based on National Common Mobility Card was launched PM in March 2019, enabling people to pay multiple types of transport charges.

The governments FAME II scheme, she said, aims to encourage faster adoption of electric vehicles by right incentives and charging infra.

Sitharaman said that the average amount spent on food security per year nearly doubled during 2014-19 compared to preceding five years.

Sitharaman said her government-provided rejuvenated centre-state dynamic, cooperative federalism, GST Council and a strident commitment to fiscal discipline; set the ball rolling for NewIndia between 2014 and 2019.

The recent election was charged with brimming home and desire for a bright Read More – Source

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