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India world’s largest fastest growing economy: Birla

Kota: Lok Sabha Speaker Om Birla on Sunday said India is the world’s fastest growing major economy and has become the fifth largest economy in the world after overtaking UK.

The Speaker made the statement while addressing a credit outreach program here as he referred to the new era of economic transformation in the country.

“The Indian economy is getting stronger by the day through the contribution of the people,” he added.

In the context of economic empowerment of the nation’s youth, women, farmers, and hardworking people, Birla said that the people will become financially stronger and more empowered which will induce new energy and strength into the entire economic system, thereby ensuring that the country becomes more powerful and prosperous.

Referring to the schemes of Narendra Modi-led government, the Speaker said that through micro loans, the weakest sections of society and the economy can be empowered and made self-reliant.

Respecting the sense of dignity and self-respect of the needy and underprivileged people, the Speaker said that when the economically weaker sections get micro loans at low rates from the government, they can increase their income with dignified work, and will be able to pave the way for economic prosperity, while supporting their families.

Referring to new startups in the agriculture sector, Birla said that efforts are on in order to increase production in agriculture through innovation and new technology, organic farming, etc.

In the context of the schemes brought by the Prime Minister Narendra Modi to strengthen and support farmers, the Speaker said that farmer empowerment is the foremost priority of the government.

Emphasising on the use of more technology in agriculture, Birla said that the objective of Pashu Kisan Credit Card Scheme is to make cattle rearers self-reliant and progressive, which will further increase their active role in nation building.

In her address, Union Finance Minister Nirmala Sitharaman, who was also present, appreciated the Speaker’s efficiency in conducting the house.

She informed the people that as a policy decision the senior officials of banks have ensured that loans are extended to the poor and the underprivileged sections of the society as per various schemes of the central government.

The FM congratulated Birla for the efficient discharge of his responsibilities and said that due to his untiring efforts, bank loans worth Rs 1500 crore would be provided to the people of Kota-Bundi under various schemes for self-reliance and empowerment.