Projecting India as a bright spot amid global slowdown, Prime Minister Narendra Modi today said the country is "running at" 7.5 per cent and will grow "even faster" in the coming years.
"India is today the fastest growing major economy in the world...We are running at 7.5 per cent per year, but will grow even faster in the coming years," he said while addressing the Indian diaspora on the second day of his three-day visit to Malaysia.
"Every major global institution has placed its bets on India growing strongly," Modi said.
He said India is witnessing growth even when rest of the world, including parts of Asian region, are experiencing a slowdown.
Indian economy witnessed a growth of 7.3 per cent in the last fiscal. During the first quarter of 2015-16, the growth was 7 per cent.
Talking about the 18 months of his government, Modi said, there is also a change in the way government is working. "We are making government transparent and accountable. We are eliminating corruption at all levels. We are making governance driven by policies and systems, not by discretion of individuals," he said.
"There is change in the cities. There is momentum in the villages. And, there is confidence in our citizens, especially our youth. And, there is change in the way government is working," he added.
On the cooperative federalism, Modi said, "we are changing the way government and citizens interact with each other. And, Central and State Governments work with each other. States compete with each other now. That is healthy."
At the same time, he noted that the world is inter-dependent and "our national progress will depend on the strength and success of our international partnerships... What happens in a far off country can affect the livelihood of workers in another place."
Modi said the decision that may be taken in a conference room in the UN or WTO can affect the life of a farmer in a village in India and the lifestyle in one part of the world affects climate and agriculture in another part of the world.
"We need each other's markets and resources...We don't have to look far to find friends and partners. Southeast Asia is our neighbour on land and sea. This is one of the most dynamic and peaceful regions of the world. This is a region of culture, talent, enterprise and hard work," he said.
He said India has excellent relations with all Southeast Asian countries.
Referring to the initiatives regarding the financial
inclusion, the Prime Minister said banks had been nationalised 40 years ago with an argument that it was for the benefit of the poor people.
"40 years passed but the doors of banks had not opened to the poor people. After our government came, we decided that the poor people should have accounts in banks. By now, 20 crore new bank accounts have been opened (since the Jandhan Yojana was launched in late 2014)," he said.
Modi said Rs 30,000 crore had been deposited in these accounts even though the government had said that these could be 'zero balance' accounts.
"The poor people live by their values and principles. That is why they did not want to keep their accounts with zero balance," he said.
He then talked about Mudra Yojana under which loans are given to the poor people. "In 5-6 months, two crore people have got loan under this scheme. Without any guarantees... just on the basis of trust, Rs 80,000 crore have been disbursed under this scheme," the Prime Minister said.
While talking about the electric rickshaws, he said these vehicles would benefit not only those using these and their families but also help in the fight against the global problem of climate change.
The e-rickshaw users will also be entitled to Atal Jeevan Bima Yojana and other such schemes, he said, adding it will be like a "protective shield" to them.
Modi said that drivers were the first contact for tourists and key in shaping the image of the country when they interact with the travellers. He said e-visas are being given to more than 100 countries and special training will be imparted to drivers about their conduct.
He also showered praise on Rajnath Singh, who represents Lucknow in Lok Sabha, saying he was very efficient Home Minister.
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With regard to the Mudra scheme, Modi said "Its result will be visible soon."
The Prime Minister, while distributing 2,100 e-rickshaws, said "when a foreigner comes, he first comes across a driver. The behaviour of a driver within the first 10-15 minutes reflects the image of the country... If the behaviour is good the visitor would never forget that," he said.
"Even a PM cannot do what a driver can do. Therefore there will be special training for them so that they can act as the brand ambassadors of India in future," he said.
Rajnath Singh, while addressing the function, said it was for the first time in the history of the country that a Prime Minister had encouraged the rickshaw pullers.
"The manner in which you (PM) have understood the feelings of ricksaw pullers...The feeling they are having is visible from their faces," he said while praising the PM.
Before returning to Delhi, Modi garlanded the statue of Ambedkar at Ambedkar Mahasabha office opposite Vidhan Bhawan building.
