• search
For New-delhi Updates
Allow Notification  

To develop modern infrastructure, Modi says Rs 100 lakh crore being invested

By Anuj Cariappa

New Delhi, Aug 15: Prime Minister Narendra Modi said today that the government make a massive investment of Rs. 100 lakh crore to develop modern infrastructure that will help double the size of the economy to $5 trillion in the next five years.

Addressing the nation from the Red Fort on the 73rd Independence Day, he said that the government will continue to introduce reforms to help India become part of top 50 countries on the ''ease of doing business'' ranking.

Prime Minister Narendra Modi

"To some the target of nearly doubling the size of Indian economy to $5 trillion in five years may seem difficult. But when we see that we have added $1 trillion to the economy in five years, this target seems achievable," PM Modi said.

From Swat Commandos to NSG snipers, how Red Fort was guarded today

PM Modi said political stability provides a unique opportunity for India to grow. He referred to reforms such as GST and Insolvency and Bankruptcy Code (IBC) for aiding the growth process.

PM added that the era of policy paralysis has ended and that the centre is delivering policy-based governance that has helped catapult the country from 142nd place among 190 nations on the World Bank's ease of doing business ranking in 2014 to 77th position this year.

India was ranked 142nd among 190 nations when PM Modi took office in 2014. Four years of reform pushed up India's rank to 100th in the World Bank's ''Doing Business'' 2018 report. It was 130th in 2017 when India was ranked lower than Iran and Uganda.

In its annual ''Doing Business'' 2019 report, India secured 77th position. New Zealand tops the list, followed by Singapore, Denmark and Hong Kong. The United States is placed at 8th and China ranked 46th. Neighbouring Pakistan is placed at 136.

Modi continues with his tradition of sporting the 'safa' on Independence Day

India has improved its ranking by 53 positions in the last two years and 65 places in four years since 2014.

The World Bank ranks 190 countries based on 10 parameters, including starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts, and resolving insolvency.

For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more