Modi govt taking steps to strengthen economy: Javadekar

Modi govt taking steps to strengthen economy: Javadekar

Agency News

Lucknow, Oct 5 : Claiming that the Centre was taking initiatives to strengthen the economy, Union minister of Environment, Forest and Climate Change Prakash Javadekar on Saturday said the Narendra Modi government was encouraging investment in all sectors which will create employment opportunity.

Addressing the media during a press conference here, Mr Javadekar said the entire world was facing recession but the Centre was working hard to deal with it by encouraging foreign investment which will sort the problem soon.

Blaming the Congress for miseries before 2014, Mr Javadekar said decline in development rate and inflation were common in Congress government regime but Modi government has changed the scenario completely. He said that Central government instructed banks firmly that interest rates must be in accordance with the ease of public which will eventually rejuvenate industrial sector.

Mr Javadekar said before 2014 foreign industrialists were not interested in investment in India due to harsh taxation system but Modi government has reduced corporate taxes up to 22 per cent and alternate taxes upto 15 per cent which has changed scenario. He said that China was facing a recession and its industries looking for new markets.

The Union minister said that decision of merger of banks will improve credit monitoring. He said that there were 27 banks in the country which has come down to 12 post merger. The GST has also made things easier for public and appreciations can be noticed across the country.

Highlighting the achievements of Bharatiya Janata Party (BJP) government, Mr Javadekar said the country has made sustainable development in infrastructure sector in recent years. Connectivity has improved at every level-- roads, waterways and railways.

Environment will further improve as BS 6 petrol-diesel will be available after Rs 7,000 crore investment by 2020. GST was implemented two years back with the consent of states and regular meetings were being conducted for improvement.(UNI)