India will continue to grow at 6-8% over the next five years: Ashwini Vaishnaw

New Delhi: India will continue to grow at a rate of 6-8 per cent over the next five years due to transformational changes initiated by Prime Minister Narendra Modi in the face of global turmoil and geopolitical tensions, Information and Broadcasting Minister Ashwini Vaishnaw said on Friday. . India’s growth story is built on four pillars: large-scale public investment, focus on manufacturing and innovation, inclusive growth and legal simplification, Vaishnaw said at the NDTV Indian of the Year Awards ceremony.

Vaishnaw said the world looked to India as a ray of hope at a time when the global economy was battered by global turmoil, two wars, supply chain disruptions and the COVID-19 pandemic.

The minister praised Modi’s “considered thought process” and “clearly laid out plan” for India’s sustained economic growth.

“We can say with very high confidence that India will continue to grow over the next five years at a real growth rate of 6-8 per cent, nominal growth of 10-14 per cent and very moderate inflation. The changes that have taken place in people’s lives,” Vaishnaw said. .

The minister said the policies pursued by Modi had enabled his government to be re-elected for three consecutive years at a time when governments across the world were facing anti-incumbency. “But in this big, vibrant, vocal democracy, the people re-elected the government for the third time in a row, and that’s because people saw a change in their lives,” Vaishnaw said.