India's economic growth rate over 8%, foreign investment at record high: PM

Prime Minister Narendra Modi on Saturday said that the country's economic growth rate is over 8 per cent.

Speaking at the release of the 10th installment of financial benefit under PM-KISAN, the Prime Minister said that the foreign investments, forex reserves, and GST collections are also at record high levels.

"Today the growth rate of our economy is more than 8 per cent. Record foreign investment has come to India. Old records have also been broken in the GST collection. We have also set new paradigms in the matter of exports and especially agriculture," said PM Modi.

PM Modi said that it is time to start a "new vibrant journey" of the country's resolves in the year India will complete 75 years of independence.

"Today, as we are entering the new year, taking inspiration from our efforts of the past year, we have to move towards new resolutions. This year we will complete 75 years of our independence. This is the time to start a new vibrant journey of the country's resolves, to move forward with renewed vigour," he added.

During the event, the Prime Minister also released an equity grant of more than Rs 14 crores to about 351 Farmer Producer Organizations (FPOs), which will benefit more than 1.24 lakh farmers.

As per an official statement from the Prime Minister's Office, this is in line with the government's continued commitment and resolve to empower grassroots-level farmers.

This will enable the transfer of an amount of more than Rs 20,000 crore to more than 10 crore beneficiary farmer families, said PMO.

Under the PM-KISAN scheme, a financial benefit of Rs 6,000 per year is provided to the eligible beneficiary farmer families, payable in three equal four-monthly installments of Rs 2,000 each. The fund is transferred directly to the bank accounts of the beneficiaries. In this scheme, Samman Rashi of over Rs 1.6 lakh crore has been transferred to farmer families so far.