Stressing that “growth cannot take place without inclusion” and “inclusion cannot happen without growth”, Prime Minister Narendra Modi on Friday affirmed that India has done this with a speed in the last eight years that has no parallel in the world and continues to pursue in next 25 years.
Delivering the first “Arun Jaitley Memorial Lecture” (AJML) here at ‘Vigyan Bhavan’, Modi said “India is seeing growth as well as inclusion” and spoke about the inclusive agenda of his Government.
“I want to ask this question to all of you. Is real growth possible without inclusion? Can inclusion be thought of without growth?’’ questioned the PM.
“In the last 8 years, India has worked rapidly towards inclusion. We have given free gas connections to nine crore women and built 10 core toilets for the poor. Along with that, we have opened 45 crore of Jan Dhan Bank accounts along with giving 3 crore houses to the poor,” said Modi, adding that the speed of inclusion will not find any parallel in the world.
“India’s recovery from the pandemic is reflective of choosing a people-centric policy and not populist impulse,” the Prime Minister further said.
Remembering late Jaitley, a senior BJP leader, strategist and Finance Minister in the Modi Government who was also his close political associate for decades, Modi praised his tribulation, oratory, and “one-liners” which, he said kept lingering long after they are delivered. The Prime Minister said Jaitley had a vast circle of friends cutting across parties or ideologies.
The AJML was organised by the Department of Economic Affairs, Ministry of Finance, in recognition of the former Union Minister’s ‘invaluable contribution’ to the nation.
The keynote address at the first AJML was delivered by Tharman Shanmugaratnam, Senior Minister, Government of Singapore, on ‘Growth through Inclusivity, Inclusivity through Growth’. Shanmugaratnam lauded India’s Adhar and UPI link schemes and described them as remarkable. He said India must aim at 8 to 10 per cent growth to lift average incomes and create more jobs.
On the title theme of the AJML, the Prime Minister said to him “simply put it means sabka saath, sabka vikas”.
In the beginning of his address, Modi paid tribute to former Japanese Prime Minister Shinzo Abe, who was assassinated earlier Friday morning.
“It is a day of irreparable damage and unbearable pain for me today. My close friend and former Japanese PM Shinzo Abe is no longer with us. He was not only my friend but a trusted friend of India,” Modi said, adding during Abe’s regime, the India-Japan relationship touched new heights and carried forward a shared heritage”, he said.
Prime Minister said Abe will live in the hearts of the people for years because of his contribution to India’s growth story.
During the event, Modi is to interact with delegates participating in the Kautilya Economic Conclave (KEC), a three-day event being organised from July 8 to 10.
Eminent economists attending include Anne Krueger of the John Hopkins University, Nicholas Stern of the London School of Economics, Robert Lawrence of the Harvard Kennedy School, John Lipsky, former acting Managing director, IMF, and Junaid Ahmed, World Bank country director for India.
KEC is being organised by the Institute of Economic Growth with support from the Ministry of finance.
Going further in his theme of growth Modi cited examples of the Government’s welfare policies to assert that India would follow the path of “inclusive growth for the next 25 years.”
“Reforms are being undertaken by conviction, not compulsion. They are a win-win choice. No real economic growth is possible without inclusion and no inclusion is possible without growth,’’ said the Prime Minister.
“Two hundred and nine new medical colleges have been built in the last eight years compared to 50 in the previous 10 years. Nine crore free cooking gas connections were given, 10 crore toilets constructed and 45 crore bank accounts were opened. This showed that the Government was committed to inclusivity.
“I agree there are challenges, but there are 130 crore solutions,’’ said Modi.
Commencing the proceedings, Finance Minister Nirmala Sitharaman pointed out that Jaitley was the person behind two major reforms-GST and the Bankruptcy Code. It was during his tenure that the date of presenting the Union Budget was advanced to February 1 and the separate presentation of the Railway Budget was abolished.
“He valued the good discourses. His interest in cricket, love for fountain pens and watches was well known. He was a great connoisseur of food and could name the best restaurants in 25 cities across the world,’’ said Sitharaman.